Permian Basin Royalty Trust (NYSE:PBT) Shares Gap Down to $16.74

Shares of Permian Basin Royalty Trust (NYSE:PBTGet Rating) gapped down prior to trading on Friday . The stock had previously closed at $16.74, but opened at $15.83. Permian Basin Royalty Trust shares last traded at $15.83, with a volume of 189 shares traded.

Permian Basin Royalty Trust Stock Performance

The company has a 50 day moving average price of $17.97 and a 200-day moving average price of $16.04.

Permian Basin Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be given a dividend of $0.224 per share. This is an increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.20. This represents a $2.69 dividend on an annualized basis and a yield of 17.09%. The ex-dividend date of this dividend is Thursday, September 29th.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Several institutional investors and hedge funds have recently modified their holdings of the stock. Selective Wealth Management Inc. bought a new position in Permian Basin Royalty Trust in the first quarter worth $31,000. JPMorgan Chase & Co. increased its stake in shares of Permian Basin Royalty Trust by 78.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,400 shares of the oil and gas producer’s stock worth $56,000 after acquiring an additional 1,500 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Permian Basin Royalty Trust during the 2nd quarter valued at about $62,000. Legend Financial Advisors Inc. purchased a new stake in Permian Basin Royalty Trust in the fourth quarter worth about $112,000. Finally, Walleye Capital LLC bought a new position in shares of Permian Basin Royalty Trust during the first quarter valued at approximately $132,000.

About Permian Basin Royalty Trust

(Get Rating)

Permian Basin Royalty Trust, an express trust, holds overriding royalty interests in various oil and gas properties in the United States. The company owns a 75% net overriding royalty interest in the Waddell Ranch properties comprising Dune, Judkins, McKnight, Tubb, Devonian, and Waddell fields located in Crane County, Texas.

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