Permian Basin Royalty Trust (NYSE:PBT) Sets New 1-Year High – Here’s What Happened

Permian Basin Royalty Trust (NYSE:PBT) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $35.52 and last traded at $35.33, with a volume of 11963 shares changing hands. The stock had previously closed at $35.27.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Permian Basin Royalty Trust in a report on Tuesday, August 18th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Permian Basin Royalty Trust presently has a consensus rating of “Hold”.

Permian Basin Royalty Trust Stock Down 0.6%

The company has a market cap of $1.65 billion, a PE ratio of 100.96 and a beta of 0.50. The company has a 50-day moving average of $31.40 and a 200-day moving average of $26.63.

Permian Basin Royalty Trust (NYSE:PBT) last announced its quarterly earnings results on Thursday, August 13th. The oil and gas producer reported $0.08 earnings per share (EPS) for the quarter. The business had revenue of $4.18 million during the quarter. Permian Basin Royalty Trust had a return on equity of 9,990.08% and a net margin of 91.96%.

Permian Basin Royalty Trust Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a $0.0187 dividend. The ex-dividend date is Monday, August 31st. This represents a c) annualized dividend and a dividend yield of 0.6%. Permian Basin Royalty Trust’s dividend payout ratio is presently 62.86%.

Institutional Trading of Permian Basin Royalty Trust

Institutional investors and hedge funds have recently made changes to their positions in the company. Tidal Investments LLC bought a new position in shares of Permian Basin Royalty Trust during the second quarter valued at about $211,000. Integrated Wealth Concepts LLC bought a new stake in Permian Basin Royalty Trust in the 2nd quarter worth about $114,000. NewEdge Advisors LLC grew its position in Permian Basin Royalty Trust by 25.1% in the 2nd quarter. NewEdge Advisors LLC now owns 3,493 shares of the oil and gas producer’s stock worth $87,000 after purchasing an additional 701 shares in the last quarter. Corient Private Wealth LP increased its stake in Permian Basin Royalty Trust by 10.4% in the 2nd quarter. Corient Private Wealth LP now owns 20,865 shares of the oil and gas producer’s stock valued at $522,000 after buying an additional 1,974 shares during the last quarter. Finally, Post Resch Tallon Group Inc. purchased a new stake in Permian Basin Royalty Trust in the 2nd quarter valued at about $210,000. Hedge funds and other institutional investors own 28.86% of the company’s stock.

Permian Basin Royalty Trust Company Profile

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.