Permian Basin Royalty Trust (NYSE:PBT) Trading Down 7.1% – What’s Next?

Shares of Permian Basin Royalty Trust (NYSE:PBT) fell 7.1% on Monday . The stock traded as low as $12.82 and last traded at $12.88. Approximately 265,095 shares traded hands during mid-day trading, an increase of 105% from the average daily volume of 129,449 shares. The stock had previously closed at $13.86.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Permian Basin Royalty Trust from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th.

Permian Basin Royalty Trust Trading Up 0.5 %

The firm has a fifty day moving average price of $11.88 and a 200-day moving average price of $11.65.

Permian Basin Royalty Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.0217 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, November 29th. Permian Basin Royalty Trust’s dividend payout ratio is currently 46.15%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

A number of large investors have recently bought and sold shares of the stock. Flow Traders U.S. LLC purchased a new position in shares of Permian Basin Royalty Trust in the 3rd quarter worth $167,000. Independent Advisor Alliance purchased a new position in Permian Basin Royalty Trust in the third quarter valued at approximately $837,000. Moors & Cabot Inc. lifted its position in Permian Basin Royalty Trust by 16.3% during the third quarter. Moors & Cabot Inc. now owns 535,151 shares of the oil and gas producer’s stock valued at $6,363,000 after buying an additional 75,064 shares in the last quarter. EagleClaw Capital Managment LLC grew its stake in Permian Basin Royalty Trust by 2.3% during the third quarter. EagleClaw Capital Managment LLC now owns 41,375 shares of the oil and gas producer’s stock worth $492,000 after buying an additional 925 shares during the period. Finally, Prospera Private Wealth LLC acquired a new stake in shares of Permian Basin Royalty Trust in the third quarter worth $110,000. Hedge funds and other institutional investors own 28.86% of the company’s stock.

Permian Basin Royalty Trust Company Profile

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.