Permian Basin Royalty Trust (NYSE:PBT) Short Interest Down 20.6% in October

Permian Basin Royalty Trust (NYSE:PBT) was the target of a large decline in short interest in October. As of October 15th, there was short interest totalling 162,200 shares, a decline of 20.6% from the September 30th total of 204,400 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average daily volume of 112,700 shares, the days-to-cover ratio is currently 1.4 days.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PBT. Schwartz Investment Counsel Inc. raised its holdings in Permian Basin Royalty Trust by 23.0% in the 3rd quarter. Schwartz Investment Counsel Inc. now owns 1,402,402 shares of the oil and gas producer’s stock valued at $16,647,000 after buying an additional 262,233 shares during the last quarter. Moors & Cabot Inc. raised its stake in shares of Permian Basin Royalty Trust by 23.3% during the second quarter. Moors & Cabot Inc. now owns 460,087 shares of the oil and gas producer’s stock valued at $5,181,000 after acquiring an additional 87,080 shares during the last quarter. Mad River Investors lifted its holdings in shares of Permian Basin Royalty Trust by 4.6% during the third quarter. Mad River Investors now owns 276,382 shares of the oil and gas producer’s stock worth $3,286,000 after purchasing an additional 12,209 shares during the period. OFI Invest Asset Management bought a new stake in shares of Permian Basin Royalty Trust in the second quarter worth $1,303,000. Finally, BWM Planning LLC acquired a new stake in Permian Basin Royalty Trust in the third quarter valued at $1,233,000. 28.86% of the stock is currently owned by institutional investors.

Permian Basin Royalty Trust Stock Performance

NYSE PBT traded up $0.09 during trading on Friday, reaching $11.72. The company’s stock had a trading volume of 85,053 shares, compared to its average volume of 125,428. Permian Basin Royalty Trust has a 12 month low of $10.14 and a 12 month high of $20.34. The firm has a 50 day moving average price of $11.45 and a 200 day moving average price of $11.64.

Permian Basin Royalty Trust (NYSE:PBT) last posted its quarterly earnings data on Thursday, August 8th. The oil and gas producer reported $0.18 EPS for the quarter. Permian Basin Royalty Trust had a return on equity of 15,940.96% and a net margin of 96.28%. The firm had revenue of $8.83 million for the quarter.

Permian Basin Royalty Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a dividend of $0.03 per share. This represents a $0.36 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Thursday, October 31st. Permian Basin Royalty Trust’s dividend payout ratio is 89.71%.

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.