Permian Basin Royalty Trust (NYSE:PBT) Shares Up 4.5% – Still a Buy?

Permian Basin Royalty Trust (NYSE:PBT) shares traded up 4.5% on Monday . The stock traded as high as $27.49 and last traded at $27.3820. Approximately 11,282 shares were traded during trading, a decline of 91% from the average daily volume of 129,200 shares. The stock had previously closed at $26.20.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Permian Basin Royalty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 21st. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Permian Basin Royalty Trust Price Performance

The business has a 50 day moving average of $26.99 and a 200 day moving average of $22.33. The company has a market cap of $1.30 billion, a PE ratio of 87.18 and a beta of 0.48.

Permian Basin Royalty Trust (NYSE:PBT) last released its quarterly earnings results on Thursday, May 14th. The oil and gas producer reported $0.06 earnings per share for the quarter. Permian Basin Royalty Trust had a net margin of 88.99% and a return on equity of 9,061.81%. The business had revenue of $3.57 million for the quarter.

Permian Basin Royalty Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.0247 per share. This represents a c) dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. This is a positive change from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. Permian Basin Royalty Trust’s payout ratio is presently 93.75%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

Institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada lifted its holdings in Permian Basin Royalty Trust by 6.0% in the fourth quarter. Royal Bank of Canada now owns 9,802 shares of the oil and gas producer’s stock worth $166,000 after buying an additional 558 shares during the period. HighTower Advisors LLC grew its holdings in shares of Permian Basin Royalty Trust by 0.8% during the 4th quarter. HighTower Advisors LLC now owns 71,697 shares of the oil and gas producer’s stock worth $1,217,000 after acquiring an additional 604 shares during the period. CX Institutional raised its position in shares of Permian Basin Royalty Trust by 80.3% in the 2nd quarter. CX Institutional now owns 2,109 shares of the oil and gas producer’s stock worth $53,000 after acquiring an additional 939 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of Permian Basin Royalty Trust by 53.1% in the 2nd 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, Welch Group LLC raised its position in shares of Permian Basin Royalty Trust by 8.4% in the 1st quarter. Welch Group LLC now owns 19,298 shares of the oil and gas producer’s stock worth $415,000 after acquiring an additional 1,500 shares in the last quarter. 28.86% of the stock is owned by institutional investors.

About Permian Basin Royalty Trust

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.