Shares of Permian Basin Royalty Trust (NYSE:PBT – Get Free Report) were up 3.8% on Monday . The company traded as high as $18.04 and last traded at $18.04. Approximately 29,192 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 144,677 shares. The stock had previously closed at $17.38.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on PBT shares. StockNews.com started coverage on Permian Basin Royalty Trust in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. TheStreet lowered shares of Permian Basin Royalty Trust from a “b” rating to a “c+” rating in a research report on Thursday, November 9th.
Permian Basin Royalty Trust Price Performance
Permian Basin Royalty Trust Increases Dividend
The company also recently announced a monthly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st were paid a dividend of $0.0429 per share. This is a boost from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. The ex-dividend date was Monday, October 30th. This represents a $0.51 dividend on an annualized basis and a yield of 2.73%. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is presently 82.26%.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of PBT. Signaturefd LLC boosted its stake in shares of Permian Basin Royalty Trust by 15.0% in the first quarter. Signaturefd LLC now owns 3,329 shares of the oil and gas producer’s stock worth $81,000 after acquiring an additional 434 shares during the period. MGO One Seven LLC boosted its position in shares of Permian Basin Royalty Trust by 3.8% during the first quarter. MGO One Seven LLC now owns 13,645 shares of the oil and gas producer’s stock worth $333,000 after acquiring an additional 500 shares during the last quarter. State Street Corp increased its holdings in Permian Basin Royalty Trust by 3.9% in the 3rd quarter. State Street Corp now owns 15,534 shares of the oil and gas producer’s stock valued at $257,000 after acquiring an additional 589 shares during the last quarter. UBS Group AG lifted its stake in Permian Basin Royalty Trust by 3.3% in the 2nd quarter. UBS Group AG now owns 18,887 shares of the oil and gas producer’s stock worth $312,000 after purchasing an additional 597 shares in the last quarter. Finally, LPL Financial LLC grew its position in shares of Permian Basin Royalty Trust by 0.7% during the first quarter. LPL Financial LLC now owns 88,399 shares of the oil and gas producer’s stock valued at $2,157,000 after purchasing an additional 622 shares in the last quarter. Institutional investors own 28.12% of the company’s stock.
About Permian Basin Royalty Trust
Permian Basin Royalty Trust, an express trust, holds overriding royalty interests in various oil and gas properties in the United States. The company owns a 75% net overriding royalty interest in the Waddell Ranch properties comprising Dune, Sand Hills (Judkins), Sand Hills (McKnight), Sand Hills (Tubb), University-Waddell (Devonian), and Waddell fields located in Crane County, Texas.
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