Permian Basin Royalty Trust (NYSE:PBT) Trading Up 3.7% – Here’s Why

Permian Basin Royalty Trust (NYSE:PBT) rose 3.7% during trading on Tuesday . The company traded as high as $36.62 and last traded at $36.8880. Approximately 22,313 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 126,781 shares. The stock had previously closed at $35.58.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Permian Basin Royalty Trust in a research note on Tuesday, August 18th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Permian Basin Royalty Trust has a consensus rating of “Hold”.

Permian Basin Royalty Trust Stock Performance

The stock has a fifty day simple moving average of $31.98 and a 200-day simple moving average of $27.01. The stock has a market cap of $1.63 billion, a P/E ratio of 99.90 and a beta of 0.50.

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

Permian Basin Royalty Trust Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were given a dividend of $0.0187 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a c) dividend on an annualized basis and a yield of 0.6%. Permian Basin Royalty Trust’s dividend payout ratio is 62.86%.

Institutional Trading of Permian Basin Royalty Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in PBT. Horizon Kinetics Asset Management LLC boosted its holdings in Permian Basin Royalty Trust by 1.5% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 6,187,800 shares of the oil and gas producer’s stock worth $105,069,000 after purchasing an additional 88,751 shares during the last quarter. Mad River Investors increased its stake in Permian Basin Royalty Trust by 1.7% in the 1st quarter. Mad River Investors now owns 1,003,140 shares of the oil and gas producer’s stock valued at $21,588,000 after buying an additional 16,321 shares during the last quarter. Moors & Cabot Inc. lifted its position in Permian Basin Royalty Trust by 10.5% during the 4th quarter. Moors & Cabot Inc. now owns 585,746 shares of the oil and gas producer’s stock worth $9,946,000 after buying an additional 55,456 shares in the last quarter. Sei Investments Co. lifted its position in Permian Basin Royalty Trust by 116.0% during the 1st quarter. Sei Investments Co. now owns 422,000 shares of the oil and gas producer’s stock worth $9,081,000 after buying an additional 226,600 shares in the last quarter. Finally, Lido Advisors LLC boosted its stake in shares of Permian Basin Royalty Trust by 3.5% during the 4th quarter. Lido Advisors LLC now owns 122,523 shares of the oil and gas producer’s stock worth $2,244,000 after buying an additional 4,182 shares during the last quarter. 28.86% of the stock is currently owned by institutional investors and hedge funds.

Permian Basin Royalty Trust Company Profile

Permian Basin Royalty Trust is a grantor trust that holds interests in oil and natural gas properties located in the Permian Basin of West Texas. The trust does not operate wells or directly market hydrocarbons; instead, it receives royalty and overriding royalty income from production associated with its underlying properties.

The trust’s interests primarily include properties in the Waddell Ranch area of Crane County, Texas, along with other royalty properties in the state. Revenue is derived from the sale of crude oil, natural gas and natural gas liquids produced by the operators of these properties.