Permian Basin Royalty Trust (NYSE:PBT) Posts Quarterly Earnings Results

Permian Basin Royalty Trust (NYSE:PBT) issued its earnings results on Friday. The oil and gas producer reported $0.06 earnings per share for the quarter, Zacks reports. The business had revenue of $2.61 million for the quarter. Permian Basin Royalty Trust had a return on equity of 9,354.51% and a net margin of 88.68%.

Permian Basin Royalty Trust Trading Up 1.1%

Shares of Permian Basin Royalty Trust stock opened at $22.22 on Friday. The company has a fifty day simple moving average of $19.71 and a 200-day simple moving average of $18.57. Permian Basin Royalty Trust has a 12-month low of $8.01 and a 12-month high of $22.65. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 65.36 and a beta of 0.43.

Permian Basin Royalty Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.0107 per share. This represents a c) annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Tuesday, March 31st. Permian Basin Royalty Trust’s payout ratio is currently 50.00%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Institutional investors and hedge funds have recently bought and sold shares of the stock. Kestra Advisory Services LLC acquired a new position in Permian Basin Royalty Trust in the fourth quarter valued at $28,000. NewEdge Advisors LLC lifted its stake 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 during the period. Bank of America Corp DE lifted its position in Permian Basin Royalty Trust by 27.0% in the second quarter. Bank of America Corp DE now owns 13,037 shares of the oil and gas producer’s stock valued at $162,000 after purchasing an additional 2,769 shares during the period. Royal Bank of Canada boosted its stake in shares of 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 valued at $166,000 after buying an additional 558 shares in the last quarter. Finally, Creative Planning grew its stake in shares of Permian Basin Royalty Trust by 14.5% during the 2nd quarter. Creative Planning now owns 14,995 shares of the oil and gas producer’s stock worth $187,000 after purchasing an additional 1,903 shares during the period. 28.86% of the stock is owned by hedge funds and other institutional investors.

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.