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

Shares of Permian Basin Royalty Trust (NYSE:PBT) reached a new 52-week high on Wednesday . The company traded as high as $20.50 and last traded at $20.28, with a volume of 112337 shares traded. The stock had previously closed at $19.59.

Permian Basin Royalty Trust Trading Up 1.1%

The company has a market cap of $927.49 million, a PE ratio of 58.53 and a beta of 0.46. The stock has a 50 day moving average price of $18.30 and a 200 day moving average price of $17.94.

Permian Basin Royalty Trust Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be given a dividend of $0.0142 per share. This represents a c) dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, February 27th. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is 141.18%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Geneos Wealth Management Inc. purchased a new position in shares of Permian Basin Royalty Trust during the third quarter valued at approximately $27,000. Kestra Advisory Services LLC purchased a new position in Permian Basin Royalty Trust during the fourth quarter valued at $28,000. Foster Dykema Cabot & Partners LLC purchased a new position in Permian Basin Royalty Trust during the third quarter valued at $40,000. NewEdge Advisors LLC boosted its holdings in 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 acquiring an additional 1,304 shares in the last quarter. Finally, Access Investment Management LLC purchased a new stake in shares of Permian Basin Royalty Trust in the second quarter worth $64,000. 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.