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

Permian Basin Royalty Trust (NYSE:PBT) announced its quarterly earnings data on Thursday. The oil and gas producer reported $0.15 earnings per share for the quarter, Zacks reports. The business had revenue of $7.27 million during the quarter. Permian Basin Royalty Trust had a return on equity of 9,737.65% and a net margin of 89.90%.

Permian Basin Royalty Trust Trading Up 5.3%

PBT traded up $1.03 on Friday, reaching $20.36. The stock had a trading volume of 176,827 shares, compared to its average volume of 139,522. The company has a market capitalization of $948.73 million, a price-to-earnings ratio of 56.54 and a beta of 0.59. Permian Basin Royalty Trust has a fifty-two week low of $8.01 and a fifty-two week high of $20.46. The firm has a 50-day moving average of $18.15 and a 200-day moving average of $14.75.

Permian Basin Royalty Trust Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, November 17th. Shareholders of record on Friday, October 31st will be issued a $0.02 dividend. This represents a c) dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, October 31st. Permian Basin Royalty Trust’s dividend payout ratio is presently 70.59%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Permian Basin Royalty Trust in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Permian Basin Royalty Trust has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PBT. Creative Planning boosted its position in Permian Basin Royalty Trust by 14.5% during the 2nd quarter. Creative Planning now owns 14,995 shares of the oil and gas producer’s stock worth $187,000 after buying an additional 1,903 shares during the period. JPMorgan Chase & Co. raised its stake 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 valued at $1,300,000 after acquiring an additional 99,829 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Permian Basin Royalty Trust during the second quarter worth $188,000. NewEdge Advisors LLC grew its stake in shares of Permian Basin Royalty Trust by 53.1% in the second quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer’s stock worth $47,000 after purchasing an additional 1,304 shares during the last quarter. Finally, Raymond James Financial Inc. grew its stake in shares of Permian Basin Royalty Trust by 145.1% in 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 last quarter. Institutional investors and hedge funds own 28.86% of the company’s stock.

About Permian Basin Royalty Trust

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.