Permian Basin Royalty Trust (NYSE:PBT) Sets New 52-Week High – Time to Buy?

Permian Basin Royalty Trust (NYSE:PBT)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $32.33 and last traded at $32.62, with a volume of 172049 shares changing hands. The stock had previously closed at $30.33.

Analyst Ratings Changes

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

Permian Basin Royalty Trust Stock Performance

The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 101.78 and a beta of 0.48. The firm’s 50-day simple moving average is $27.46 and its two-hundred day simple moving average is $23.61.

Permian Basin Royalty Trust (NYSE:PBT) last posted its quarterly earnings data 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 firm had revenue of $3.57 million during the quarter.

Permian Basin Royalty Trust Increases Dividend

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

Institutional Investors Weigh In On Permian Basin Royalty Trust

A number of institutional investors have recently made changes to their positions in PBT. Kestra Advisory Services LLC acquired a new position in Permian Basin Royalty Trust in the fourth quarter valued at about $28,000. NewEdge Advisors LLC grew its position in shares of Permian Basin Royalty Trust by 53.1% during the 2nd quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer’s stock worth $47,000 after buying an additional 1,304 shares during the period. CX Institutional boosted its stake in Permian Basin Royalty Trust by 80.3% during 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 during the last quarter. Bank of America Corp DE boosted its stake in Permian Basin Royalty Trust by 27.0% during the 2nd quarter. Bank of America Corp DE now owns 13,037 shares of the oil and gas producer’s stock worth $162,000 after acquiring an additional 2,769 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in Permian Basin Royalty Trust by 6.0% during 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 purchasing an additional 558 shares during the period. 28.86% of the stock is owned by institutional investors and hedge funds.

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.