Permian Basin Royalty Trust (NYSE:PBT) Announces Quarterly Earnings Results

Permian Basin Royalty Trust (NYSE:PBT) issued its earnings results on Thursday. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, Zacks reports. Permian Basin Royalty Trust had a net margin of 89.06% and a return on equity of 8,774.67%.

Permian Basin Royalty Trust Price Performance

Permian Basin Royalty Trust stock traded down $1.62 during trading hours on Thursday, hitting $27.24. The company had a trading volume of 295,532 shares, compared to its average volume of 186,215. The firm has a market cap of $1.27 billion, a PE ratio of 85.12 and a beta of 0.42. Permian Basin Royalty Trust has a one year low of $10.21 and a one year high of $29.40. The firm has a 50-day moving average of $22.07 and a 200 day moving average of $19.66.

Permian Basin Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th will be issued a $0.038 dividend. The ex-dividend date of this dividend is Thursday, April 30th. This represents a c) annualized dividend and a yield of 1.7%. This is an increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.01. Permian Basin Royalty Trust’s payout ratio is currently 143.75%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of Permian Basin Royalty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 30th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Permian Basin Royalty Trust currently has an average rating of “Sell”.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. SoftVest Advisors LLC increased its holdings in shares of Permian Basin Royalty Trust by 40.1% during the second quarter. SoftVest Advisors LLC now owns 6,206,624 shares of the oil and gas producer’s stock worth $77,335,000 after purchasing an additional 1,776,929 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Permian Basin Royalty Trust by 2,233.8% during the second quarter. JPMorgan Chase & Co. now owns 104,298 shares of the oil and gas producer’s stock worth $1,300,000 after purchasing an additional 99,829 shares during the period. UBS Group AG increased its holdings in shares of Permian Basin Royalty Trust by 170.1% during the third quarter. UBS Group AG now owns 147,578 shares of the oil and gas producer’s stock worth $2,693,000 after purchasing an additional 92,936 shares during the period. HRT Financial LP increased its holdings in shares of Permian Basin Royalty Trust by 540.8% during the fourth quarter. HRT Financial LP now owns 86,939 shares of the oil and gas producer’s stock worth $1,476,000 after purchasing an additional 73,371 shares during the period. Finally, Raymond James Financial Inc. increased its holdings in shares of Permian Basin Royalty Trust by 145.1% during the second quarter. Raymond James Financial Inc. now owns 64,466 shares of the oil and gas producer’s stock worth $803,000 after purchasing an additional 38,164 shares during the period. 28.86% of the stock is owned by institutional investors.

About Permian Basin Royalty Trust

Permian Basin Royalty Trust (NYSE: PBT) is a passive investment vehicle that holds overriding royalty interests in oil and gas properties located in the Permian Basin region of West Texas. Established in 1980 by Apache Oil Company, the Trust does not engage in exploration or production activities. Instead, it owns net profit interests on specified acreage, allowing unitholders to participate directly in the cash flows generated by hydrocarbon extraction without bearing the costs or risks associated with day-to-day field operations.

The Trust’s interests cover acreage predominantly in Reeves and Loving Counties, where mature wells have been developed over several decades.