Permian Basin Royalty Trust (NYSE:PBT) Sees Unusually-High Trading Volume – Should You Buy?

Permian Basin Royalty Trust (NYSE:PBT) saw an uptick in 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 shares of Permian Basin Royalty Trust from a “hold” rating to a “buy” rating in a report on Wednesday, December 18th.

Permian Basin Royalty Trust Trading Up 0.4 %

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

Permian Basin Royalty Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.0219 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 2.27%. This is an increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. The ex-dividend date of this dividend is Tuesday, December 31st. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is 33.33%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Access Investment Management LLC acquired a new position in shares of Permian Basin Royalty Trust during the third quarter worth about $97,000. International Assets Investment Management LLC lifted its position in Permian Basin Royalty Trust by 1,089.0% during the 3rd quarter. International Assets Investment Management LLC now owns 8,323 shares of the oil and gas producer’s stock worth $99,000 after acquiring 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 stake in Permian Basin Royalty Trust in the third quarter valued at approximately $113,000. Finally, Flow Traders U.S. LLC purchased a new stake in shares of Permian Basin Royalty Trust during the third quarter valued at approximately $167,000. 28.86% of the stock is owned by institutional investors and hedge funds.

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.