Permian Basin Royalty Trust (NYSE:PBT) Reaches New 12-Month High – Here’s Why

Shares of Permian Basin Royalty Trust (NYSE:PBT) hit a new 52-week high on Monday . The stock traded as high as $23.13 and last traded at $23.1440, with a volume of 129858 shares. The stock had previously closed at $22.45.

Analyst Ratings Changes

Separately, Weiss Ratings lowered 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 investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Permian Basin Royalty Trust Trading Up 4.1%

The company has a market cap of $1.09 billion, a price-to-earnings ratio of 73.04 and a beta of 0.42. The firm has a 50-day moving average price of $21.23 and a 200 day moving average price of $19.23.

Permian Basin Royalty Trust (NYSE:PBT) last announced its quarterly earnings data on Friday, March 27th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter. The firm had revenue of $2.61 million for the quarter. Permian Basin Royalty Trust had a return on equity of 8,774.67% and a net margin of 89.06%.

Permian Basin Royalty Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th will be given a $0.038 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Thursday, April 30th. This is an increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.01. Permian Basin Royalty Trust’s payout ratio is 140.62%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Several institutional investors and hedge funds have recently bought and sold shares of the business. Creative Planning lifted its holdings in Permian Basin Royalty Trust by 14.5% in the second quarter. Creative Planning now owns 14,995 shares of the oil and gas producer’s stock worth $187,000 after acquiring an additional 1,903 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Permian Basin Royalty Trust by 2,233.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 104,298 shares of the oil and gas producer’s stock worth $1,300,000 after purchasing an additional 99,829 shares during the period. XTX Topco Ltd bought a new stake in shares of Permian Basin Royalty Trust in the 2nd quarter worth approximately $188,000. NewEdge Advisors LLC grew its stake in 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 buying an additional 1,304 shares during the last quarter. Finally, Raymond James Financial Inc. grew its stake in Permian Basin Royalty Trust by 145.1% during the 2nd quarter. Raymond James Financial Inc. now owns 64,466 shares of the oil and gas producer’s stock worth $803,000 after buying an additional 38,164 shares during the last quarter. Institutional investors and hedge funds 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.