Permian Basin Royalty Trust (NYSE:PBT) Trading 4.7% Higher

Permian Basin Royalty Trust (NYSE:PBT)’s stock price traded up 4.7% during mid-day trading on Friday . The company traded as high as $12.12 and last traded at $12.12. 16,823 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 139,665 shares. The stock had previously closed at $11.58.

Permian Basin Royalty Trust Stock Performance

The firm’s 50-day moving average is $12.77 and its two-hundred day moving average is $15.39. The stock has a market cap of $568.63 million, a P/E ratio of 20.33 and a beta of 0.59.

Permian Basin Royalty Trust (NYSE:PBT) last released its earnings results on Thursday, February 29th. The oil and gas producer reported $0.31 EPS for the quarter. Permian Basin Royalty Trust had a net margin of 96.16% and a return on equity of 13,667.19%. The firm had revenue of $14.44 million during the quarter.

Permian Basin Royalty Trust Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were paid a $0.041 dividend. This represents a $0.49 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date of this dividend was Wednesday, March 27th. Permian Basin Royalty Trust’s payout ratio is presently 81.67%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SoftVest Advisors LLC raised its holdings in shares of Permian Basin Royalty Trust by 1.0% in the 4th quarter. SoftVest Advisors LLC now owns 4,148,095 shares of the oil and gas producer’s stock valued at $104,532,000 after purchasing an additional 39,900 shares during the period. Schwartz Investment Counsel Inc. increased its stake in Permian Basin Royalty Trust by 40.6% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 803,849 shares of the oil and gas producer’s stock valued at $11,254,000 after acquiring an additional 232,000 shares during the last quarter. Foundation Resource Management Inc. increased its stake in Permian Basin Royalty Trust by 0.8% in the first quarter. Foundation Resource Management Inc. now owns 682,634 shares of the oil and gas producer’s stock valued at $8,260,000 after acquiring an additional 5,671 shares during the last quarter. UBS Group AG increased its stake in Permian Basin Royalty Trust by 1.5% in the third quarter. UBS Group AG now owns 479,363 shares of the oil and gas producer’s stock valued at $10,186,000 after acquiring an additional 7,142 shares during the last quarter. Finally, Hosking Partners LLP boosted its position in Permian Basin Royalty Trust by 6.0% in the third quarter. Hosking Partners LLP now owns 470,891 shares of the oil and gas producer’s stock valued at $10,006,000 after buying an additional 26,826 shares in the last quarter. 28.86% of the stock is owned by institutional investors.

Permian Basin Royalty Trust Company Profile

Permian Basin Royalty Trust, an express trust, holds royalty interests in various oil and gas properties in the United States. The company holds a 75% net overriding royalty interest in the Waddell Ranch properties, including Dune, Sand Hills (Judkins), Sand Hills (McKnight), Sand Hills (Tubb), University-Waddell (Devonian) and Waddell fields in Crane County, Texas.