Permian Basin Royalty Trust (NYSE:PBT) Sees Large Volume Increase – Should You Buy?

Permian Basin Royalty Trust (NYSE:PBT) shares saw strong trading volume on Thursday . 150,356 shares were traded during 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 upgraded Permian Basin Royalty Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, December 18th.

Permian Basin Royalty Trust Trading Up 0.4 %

The stock’s 50 day moving average is $12.05 and its 200 day moving average is $11.58. The stock has a market capitalization of $540.21 million, a price-to-earnings ratio of 14.86 and a beta of 0.70.

Permian Basin Royalty Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.0219 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. This represents a $0.26 annualized dividend and a dividend yield of 2.27%. Permian Basin Royalty Trust’s dividend payout ratio is currently 33.33%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

A number of institutional investors have recently made changes to their positions in PBT. Atlas Wealth Partners LLC acquired a new position in shares of Permian Basin Royalty Trust in the third quarter valued at approximately $758,000. Moors & Cabot Inc. raised its holdings in Permian Basin Royalty Trust by 16.3% in the 3rd quarter. Moors & Cabot Inc. now owns 535,151 shares of the oil and gas producer’s stock valued at $6,363,000 after acquiring an additional 75,064 shares during the last quarter. Ironwood Financial llc purchased a new position in shares of Permian Basin Royalty Trust during the 3rd quarter worth $220,000. Schwartz Investment Counsel Inc. boosted its holdings in shares of Permian Basin Royalty Trust by 23.0% during the third quarter. Schwartz Investment Counsel Inc. now owns 1,402,402 shares of the oil and gas producer’s stock worth $16,647,000 after purchasing an additional 262,233 shares during the last quarter. Finally, Mad River Investors grew its position in shares of Permian Basin Royalty Trust by 4.6% in the third quarter. Mad River Investors now owns 276,382 shares of the oil and gas producer’s stock valued at $3,286,000 after purchasing an additional 12,209 shares during the period. 28.86% of the stock is owned by institutional investors and hedge funds.

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.