Investors buy large volume of call options on Permian Basin Royalty Trust (NYSE:PBT)

Permian Basin Royalty Trust (New York Stock Exchange: PBTGet a rating) was the recipient of unusual options trading activity on Monday. Equity investors acquired 2,859 call options on the company. This represents an increase of approximately 204% over the average volume of 940 call options.

Hedge funds weigh on Permian Basin Royalty Trust

A number of hedge funds have recently changed their holdings in the company. RGT Wealth Advisors LLC purchased a new stake in Permian Basin Royalty Trust in the first quarter valued at $2,620,000. Horizon Kinetics Asset Management LLC increased its holdings of Permian Basin Royalty Trust shares by 89.8% during the second quarter. Horizon Kinetics Asset Management LLC now owns 2,090,495 shares of the oil and gas producer valued at $34,598,000 after purchasing an additional 989,108 shares in the last quarter. Selective Wealth Management Inc. increased its holdings of Permian Basin Royalty Trust shares by 120.0% during the second quarter. Selective Wealth Management Inc. now owns 5,500 shares of the oil and gas producer valued at $91,000 after buying 3,000 more shares in the last quarter. BNP Paribas Arbitrage SA increased its equity stake in Permian Basin Royalty Trust by 15.0% during the second quarter. BNP Paribas Arbitrage SA now owns 98,591 shares of the oil and gas producer valued at $1,632,000 after buying an additional 12,835 shares in the last quarter. Finally, Cetera Advisors LLC acquired a new position in shares of Permian Basin Royalty Trust during the second quarter valued at approximately $166,000.

A Wall Street analyst gives his opinion

Separately, StockNews.com began covering Permian Basin Royalty Trust stocks in a research report on Wednesday, October 12. They issued a “hold” rating on the stock.

Permian Basin Royalty Trust Stock Performance

Permian Basin Royalty Trust Shares traded at $1.07 during midday trading on Monday, reaching $22.35. The company had a trading volume of 7,330 shares, compared to an average volume of 275,514. Permian Basin Royalty Trust has a fifty-two week low of $8.06 and a fifty-two week high of $23.08 . The company has a fifty-day simple moving average of $18.33 and a 200-day simple moving average of $17.57.

Permian Basin Royalty Trust (New York Stock Exchange: PBTGet a rating) last released its quarterly results on Monday, August 15. The oil and gas producer reported EPS of $0.16 for the quarter. The company had revenue of $7.63 million for the quarter. Permian Basin Royalty Trust posted a net margin of 93.84% and a return on equity of 5,082.02%.

Permian Basin Royalty Trust cuts dividends

The company also recently declared a monthly dividend, which will be paid on Tuesday, November 15. Shareholders of record on Monday, October 31 will receive a dividend of $0.2086 per share. The ex-dividend date is Friday, October 28. This represents a dividend of $2.50 on an annualized basis and a dividend yield of 11.20%.

About Permian Basin Royalty Trust

(Get a rating)

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

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