Permian Basin Royalty Trust (NYSE:PBT) Shares Up 4.4% – Still a Buy?

Permian Basin Royalty Trust (NYSE:PBT)’s share price shot up 4.4% on Thursday. The stock traded as high as $34.94 and last traded at $35.0710. 14,888 shares changed hands during trading, a decline of 89% from the average daily volume of 134,291 shares. The stock had previously closed at $33.60.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Permian Basin Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday. One investment analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

Permian Basin Royalty Trust Stock Up 0.3%

The stock has a market cap of $1.63 billion, a P/E ratio of 99.89 and a beta of 0.56. The stock has a fifty day simple moving average of $33.66 and a 200-day simple moving average of $28.49.

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

Permian Basin Royalty Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a $0.0196 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.7%. This is an increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.0187. Permian Basin Royalty Trust’s dividend payout ratio is currently 65.71%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Large investors have recently modified their holdings of the business. Post Resch Tallon Group Inc. increased its holdings in Permian Basin Royalty Trust by 10.2% during the 3rd quarter. Post Resch Tallon Group Inc. now owns 9,261 shares of the oil and gas producer’s stock worth $292,000 after purchasing an additional 859 shares in the last quarter. CX Institutional raised its holdings in Permian Basin Royalty Trust by 31.5% during the third quarter. CX Institutional now owns 2,773 shares of the oil and gas producer’s stock worth $87,000 after acquiring an additional 664 shares in the last quarter. Tidal Investments LLC acquired a new position in Permian Basin Royalty Trust during the second quarter valued at approximately $211,000. Integrated Wealth Concepts LLC bought a new position in Permian Basin Royalty Trust in the second quarter valued at approximately $114,000. Finally, NewEdge Advisors LLC increased its position in shares of Permian Basin Royalty Trust by 25.1% during the 2nd quarter. NewEdge Advisors LLC now owns 3,493 shares of the oil and gas producer’s stock worth $87,000 after purchasing an additional 701 shares during the last quarter. 28.86% of the stock is currently owned by institutional investors.

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.