Permian Basin Royalty Trust (NYSE:PBT) Shares Gap Up – Should You Buy?

Permian Basin Royalty Trust (NYSE:PBT)’s share price gapped up before the market opened on Wednesday. The stock had previously closed at $32.34, but opened at $33.21. Permian Basin Royalty Trust shares last traded at $33.5040, with a volume of 8,976 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed 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, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Permian Basin Royalty Trust Stock Performance

The stock has a fifty day moving average of $33.36 and a 200 day moving average of $28.25. The company has a market capitalization of $1.55 billion, a PE ratio of 95.19 and a beta of 0.56.

Permian Basin Royalty Trust (NYSE:PBT) last announced its quarterly earnings data on Thursday, August 13th. The oil and gas producer reported $0.08 earnings per share (EPS) for the quarter. The business had revenue of $4.18 million during the quarter. Permian Basin Royalty Trust had a net margin of 91.96% and a return on equity of 9,990.08%.

Permian Basin Royalty Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a dividend of $0.0196 per share. This is a positive change from Permian Basin Royalty Trust’s previous monthly dividend of $0.0187. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 30th. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is currently 65.71%.

Institutional Trading of Permian Basin Royalty Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sei Investments Co. boosted its stake in Permian Basin Royalty Trust by 116.0% during the first quarter. Sei Investments Co. now owns 422,000 shares of the oil and gas producer’s stock worth $9,081,000 after buying an additional 226,600 shares during the period. Horizon Kinetics Asset Management LLC raised its stake in shares of Permian Basin Royalty Trust by 1.5% in the fourth 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 acquiring an additional 88,751 shares during the period. Mad River Investors lifted its holdings in shares of Permian Basin Royalty Trust by 1.7% in the 1st quarter. Mad River Investors now owns 1,003,140 shares of the oil and gas producer’s stock worth $21,588,000 after acquiring an additional 16,321 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of Permian Basin Royalty Trust in the 2nd quarter worth about $211,000. Finally, Post Resch Tallon Group Inc. purchased a new position in shares of Permian Basin Royalty Trust during the 2nd quarter worth about $210,000. 28.86% of the stock is currently owned by institutional investors.

Permian Basin Royalty Trust Company Profile

Permian Basin Royalty Trust (NYSE:PBT) is a grantor trust that owns royalty and net profits interests in oil and natural gas properties located primarily in the Permian Basin of West Texas. The trust does not operate wells or provide products and services directly; instead, it receives proceeds generated by the underlying properties and distributes the resulting income to its unitholders.

The trust’s interests include properties associated with the Waddell Ranch and other Texas royalty assets.