Permian Basin Royalty Trust (NYSE:PBT) Trading Up 3.7% – What’s Next?

Permian Basin Royalty Trust (NYSE:PBT)’s stock price rose 3.7% on Tuesday . The stock traded as high as $36.62 and last traded at $36.8880. Approximately 22,313 shares were traded during trading, a decline of 82% from the average daily volume of 126,781 shares. The stock had previously closed at $35.58.

Wall Street Analysts Forecast Growth

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

Permian Basin Royalty Trust Trading Up 2.5%

The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 104.13 and a beta of 0.50. The company’s 50 day moving average is $31.61 and its 200-day moving average is $26.79.

Permian Basin Royalty Trust (NYSE:PBT) last announced its quarterly earnings results on Thursday, August 13th. The oil and gas producer reported $0.08 earnings per share for the quarter. The firm had revenue of $4.18 million for 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 firm also recently announced a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a dividend of $0.0187 per share. This represents a c) annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Monday, August 31st. Permian Basin Royalty Trust’s payout ratio is currently 62.86%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Large investors have recently added to or reduced their stakes in the business. Horizon Kinetics Asset Management LLC lifted its holdings in Permian Basin Royalty Trust by 1.5% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 6,187,800 shares of the oil and gas producer’s stock valued at $105,069,000 after purchasing an additional 88,751 shares during the last quarter. Mad River Investors increased its holdings in shares of Permian Basin Royalty Trust by 1.7% in the first quarter. Mad River Investors now owns 1,003,140 shares of the oil and gas producer’s stock valued at $21,588,000 after purchasing an additional 16,321 shares during the last quarter. Moors & Cabot Inc. increased its holdings in shares of Permian Basin Royalty Trust by 10.5% in the fourth quarter. Moors & Cabot Inc. now owns 585,746 shares of the oil and gas producer’s stock valued at $9,946,000 after purchasing an additional 55,456 shares during the last quarter. Sei Investments Co. raised its position in shares of Permian Basin Royalty Trust by 116.0% in the first quarter. Sei Investments Co. now owns 422,000 shares of the oil and gas producer’s stock valued at $9,081,000 after purchasing an additional 226,600 shares during the period. Finally, Lido Advisors LLC lifted 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. Institutional investors own 28.86% of the company’s stock.

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.