Permian Basin Royalty Trust (NYSE:PBT) Shares Gap Up – Here’s Why

Permian Basin Royalty Trust (NYSE:PBT) shares gapped up prior to trading on Wednesday. The stock had previously closed at $32.34, but opened at $33.21. Permian Basin Royalty Trust shares last traded at $33.5040, with a volume of 8,976 shares.

Analyst Ratings Changes

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

Permian Basin Royalty Trust Stock Performance

The stock has a market capitalization of $1.63 billion, a PE ratio of 99.81 and a beta of 0.56. The stock has a 50-day moving average price of $33.56 and a two-hundred day moving average price of $28.44.

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

Permian Basin Royalty Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.0196 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.7%. This is a positive change from Permian Basin Royalty Trust’s previous monthly dividend of $0.0187. The ex-dividend date is Wednesday, September 30th. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is presently 68.57%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Sei Investments Co. grew its holdings in Permian Basin Royalty Trust by 116.0% during the 1st quarter. Sei Investments Co. now owns 422,000 shares of the oil and gas producer’s stock worth $9,081,000 after acquiring an additional 226,600 shares in the last quarter. Mad River Investors grew its holdings in Permian Basin Royalty Trust by 1.7% in the first quarter. Mad River Investors now owns 1,003,140 shares of the oil and gas producer’s stock worth $21,588,000 after purchasing an additional 16,321 shares during the last quarter. Tidal Investments LLC purchased a new position in Permian Basin Royalty Trust during the 2nd quarter worth $211,000. Post Resch Tallon Group Inc. purchased a new stake in shares of Permian Basin Royalty Trust during the second quarter worth about $210,000. Finally, Integrated Wealth Concepts LLC acquired a new position in Permian Basin Royalty Trust during the 2nd quarter valued at approximately $114,000. 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 grantor trust that owns royalty and net profits interests in oil and natural gas properties located primarily in the Permian Basin of West Texas. The trust does not operate wells or provide products and services directly; instead, it receives proceeds generated by the underlying properties and distributes the resulting income to its unitholders.

The trust’s interests include properties associated with the Waddell Ranch and other Texas royalty assets.