Permian Basin Royalty Trust (NYSE:PBT) Shares Down 7.1% – Should You Sell?

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

Analysts Set New Price Targets

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

Permian Basin Royalty Trust Stock Down 7.3 %

The stock has a market capitalization of $598.71 million, a P/E ratio of 16.55 and a beta of 0.59. The business has a 50-day simple moving average of $11.82 and a two-hundred day simple moving average of $11.64.

Permian Basin Royalty Trust Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.0217 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Friday, November 29th. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is currently 33.33%.

Institutional Trading of Permian Basin Royalty Trust

Several large investors have recently added to or reduced their stakes in PBT. Virtu Financial LLC bought a new position in shares of Permian Basin Royalty Trust in the first quarter valued at approximately $306,000. Wealth Enhancement Advisory Services LLC increased its holdings in Permian Basin Royalty Trust by 5.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 21,918 shares of the oil and gas producer’s stock valued at $247,000 after purchasing an additional 1,150 shares in the last quarter. OFI Invest Asset Management bought a new position in Permian Basin Royalty Trust in the 2nd quarter valued at $1,303,000. Schwartz Investment Counsel Inc. boosted its stake in Permian Basin Royalty Trust by 16.1% in the second quarter. Schwartz Investment Counsel Inc. now owns 1,140,169 shares of the oil and gas producer’s stock worth $12,793,000 after purchasing an additional 158,500 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in shares of Permian Basin Royalty Trust by 3.8% during the second quarter. Commonwealth Equity Services LLC now owns 75,375 shares of the oil and gas producer’s stock worth $849,000 after purchasing an additional 2,761 shares during the last quarter. 28.86% of the stock is owned by institutional investors.

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.