Permian Basin Royalty Trust (NYSE:PBT) Stock Price Up 4.4% – What’s Next?

Permian Basin Royalty Trust (NYSE:PBT)’s stock price rose 4.4% on Thursday. The stock traded as high as $34.94 and last traded at $35.0710. Approximately 14,888 shares were traded during trading, a decline of 89% from the average session volume of 134,291 shares. The stock had previously closed at $33.60.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Permian Basin Royalty Trust in a report on Tuesday, August 18th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Permian Basin Royalty Trust has an average rating of “Hold”.

Permian Basin Royalty Trust Stock Up 3.2%

The company’s fifty day moving average price is $33.45 and its 200 day moving average price is $28.34. The company has a market capitalization of $1.62 billion, a P/E ratio of 99.00 and a beta of 0.56.

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

Permian Basin Royalty Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.0196 per share. This is an increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.0187. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.24 annualized dividend and a dividend yield of 0.7%. Permian Basin Royalty Trust’s payout ratio is currently 68.57%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. CX Institutional lifted its holdings in shares of Permian Basin Royalty Trust by 31.5% during the 3rd quarter. CX Institutional now owns 2,773 shares of the oil and gas producer’s stock worth $87,000 after acquiring an additional 664 shares during the period. NewEdge Advisors LLC increased its stake in Permian Basin Royalty Trust by 25.1% in the second quarter. NewEdge Advisors LLC now owns 3,493 shares of the oil and gas producer’s stock valued at $87,000 after acquiring an additional 701 shares during the last quarter. Welch Group LLC raised its position in Permian Basin Royalty Trust by 8.4% during the first quarter. Welch Group LLC now owns 19,298 shares of the oil and gas producer’s stock valued at $415,000 after purchasing an additional 1,500 shares in the last quarter. Corient Private Wealth LP raised its position in Permian Basin Royalty Trust by 10.4% during the second quarter. Corient Private Wealth LP now owns 20,865 shares of the oil and gas producer’s stock valued at $522,000 after purchasing an additional 1,974 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new stake in Permian Basin Royalty Trust during the second quarter worth $114,000. Institutional investors own 28.86% of the company’s stock.

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.