Permian Basin Royalty Trust (NYSE:PBT) Sees Strong Trading Volume – Here’s Why

Permian Basin Royalty Trust (NYSE:PBT) saw strong trading volume on Thursday . 150,356 shares changed hands during mid-day trading, an increase of 11% from the previous session’s volume of 135,931 shares.The stock last traded at $11.94 and had previously closed at $11.08.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Permian Basin Royalty Trust from a “hold” rating to a “buy” rating in a report on Wednesday, December 18th.

Permian Basin Royalty Trust Stock Up 6.5 %

The firm has a market cap of $550.00 million, a PE ratio of 15.13 and a beta of 0.66. The firm’s 50 day moving average is $12.05 and its 200-day moving average is $11.58.

Permian Basin Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.0219 per share. This is a positive change from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. The ex-dividend date is Tuesday, December 31st. This represents a $0.26 annualized dividend and a yield of 2.23%. Permian Basin Royalty Trust’s dividend payout ratio is 33.33%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Institutional investors have recently added to or reduced their stakes in the company. Access Investment Management LLC acquired a new stake in shares of Permian Basin Royalty Trust in the third quarter worth $97,000. International Assets Investment Management LLC grew its stake in shares of Permian Basin Royalty Trust by 1,089.0% in the third quarter. International Assets Investment Management LLC now owns 8,323 shares of the oil and gas producer’s stock valued at $99,000 after buying an additional 7,623 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in Permian Basin Royalty Trust in the 3rd quarter worth approximately $110,000. Avondale Wealth Management acquired a new position in shares of Permian Basin Royalty Trust during the third quarter worth $113,000. Finally, Flow Traders U.S. LLC purchased a new position in Permian Basin Royalty Trust in the 3rd quarter valued at about $167,000. Hedge funds and other institutional investors own 28.86% of the company’s stock.

About Permian Basin Royalty Trust

Permian Basin Royalty Trust, an express trust, holds royalty interests in various oil and gas properties in the United States. The company holds a 75% net overriding royalty interest in the Waddell Ranch properties, including Dune, Sand Hills (Judkins), Sand Hills (McKnight), Sand Hills (Tubb), University-Waddell (Devonian) and Waddell fields in Crane County, Texas.