Permian Basin Royalty Trust (NYSE:PBT) Trading 7% Higher – Time to Buy?

Permian Basin Royalty Trust (NYSE:PBT)’s share price rose 7% during mid-day trading on Tuesday . The company traded as high as $27.55 and last traded at $27.0110. Approximately 85,006 shares were traded during trading, a decline of 27% from the average daily volume of 115,665 shares. The stock had previously closed at $25.24.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Permian Basin Royalty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 30th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Permian Basin Royalty Trust Trading Down 5.6%

The firm has a fifty day moving average price of $21.93 and a 200 day moving average price of $19.59. 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 (NYSE:PBT) last released its quarterly earnings data on Thursday, May 14th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter. Permian Basin Royalty Trust had a net margin of 89.06% and a return on equity of 8,774.67%.

Permian Basin Royalty Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th will be issued a dividend of $0.038 per share. The ex-dividend date is Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend 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 143.75%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PBT. Geneos Wealth Management Inc. acquired a new stake in Permian Basin Royalty Trust during the third quarter worth $27,000. Kestra Advisory Services LLC acquired a new position in shares of Permian Basin Royalty Trust in the 4th quarter valued at $28,000. Foster Dykema Cabot & Partners LLC purchased a new position in shares of Permian Basin Royalty Trust during the 3rd quarter worth $40,000. NewEdge Advisors LLC increased its position in shares of Permian Basin Royalty Trust by 53.1% during the 2nd 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, Atlantic Union Bankshares Corp raised its holdings in Permian Basin Royalty Trust by 16.2% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 7,582 shares of the oil and gas producer’s stock valued at $138,000 after buying an additional 1,058 shares during the period. 28.86% of the stock is currently owned by hedge funds and other institutional investors.

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.