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

Permian Basin Royalty Trust (NYSE:PBT) announced its earnings results on Thursday. The oil and gas producer reported $0.08 earnings per share (EPS) for the quarter, Zacks reports. Permian Basin Royalty Trust had a return on equity of 9,061.81% and a net margin of 88.99%.

Permian Basin Royalty Trust Stock Down 1.4%

Permian Basin Royalty Trust stock traded down $0.47 during mid-day trading on Thursday, reaching $32.94. 62,398 shares of the company’s stock traded hands, compared to its average volume of 131,414. Permian Basin Royalty Trust has a 12-month low of $14.81 and a 12-month high of $35.42. The stock has a 50 day moving average of $27.98 and a two-hundred day moving average of $24.30. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 103.01 and a beta of 0.48.

Permian Basin Royalty Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a $0.0436 dividend. The ex-dividend date of this dividend is Friday, July 31st. This is a positive change from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. This represents a c) dividend on an annualized basis and a dividend yield of 1.6%. Permian Basin Royalty Trust’s payout ratio is 162.50%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PBT. SoftVest Advisors LLC increased its position in shares of Permian Basin Royalty Trust by 40.1% in the 2nd quarter. SoftVest Advisors LLC now owns 6,206,624 shares of the oil and gas producer’s stock valued at $77,335,000 after acquiring an additional 1,776,929 shares during the period. JPMorgan Chase & Co. grew its stake in 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 valued at $1,300,000 after purchasing an additional 99,829 shares during the last quarter. UBS Group AG grew its stake in Permian Basin Royalty Trust by 170.1% during the 3rd quarter. UBS Group AG now owns 147,578 shares of the oil and gas producer’s stock valued at $2,693,000 after purchasing an additional 92,936 shares during the last quarter. HRT Financial LP increased its holdings in shares of Permian Basin Royalty Trust by 540.8% in the fourth quarter. HRT Financial LP now owns 86,939 shares of the oil and gas producer’s stock valued at $1,476,000 after purchasing an additional 73,371 shares during the period. Finally, Raymond James Financial Inc. raised its stake in shares of Permian Basin Royalty Trust by 145.1% in the second quarter. Raymond James Financial Inc. now owns 64,466 shares of the oil and gas producer’s stock worth $803,000 after purchasing an additional 38,164 shares during the last quarter. Hedge funds and other institutional investors own 28.86% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Permian Basin Royalty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

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.