Permian Basin Royalty Trust (NYSE:PBT) Announces Earnings Results

Permian Basin Royalty Trust (NYSE:PBT) posted its quarterly earnings results on Monday. The oil and gas producer reported $0.08 EPS for the quarter, Zacks reports. Permian Basin Royalty Trust had a return on equity of 9,990.08% and a net margin of 91.96%.

Permian Basin Royalty Trust Stock Performance

Shares of NYSE PBT traded up $1.27 during midday trading on Monday, hitting $30.20. The company’s stock had a trading volume of 77,047 shares, compared to its average volume of 134,031. The firm’s fifty day moving average price is $33.34 and its 200-day moving average price is $27.03. Permian Basin Royalty Trust has a 1-year low of $16.25 and a 1-year high of $37.00. The firm has a market cap of $1.41 billion, a P/E ratio of 86.28 and a beta of 0.39.

Permian Basin Royalty Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 16th. Stockholders of record on Friday, October 30th will be given a $0.0452 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, October 30th. This is an increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.0196. Permian Basin Royalty Trust’s payout ratio is 154.29%.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Permian Basin Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. One research analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, Permian Basin Royalty Trust currently has an average rating of “Hold”.

About Permian Basin Royalty Trust

Permian Basin Royalty Trust (NYSE: PBT) 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 explore for, develop, or operate properties itself. Instead, it receives proceeds generated from the production and sale of hydrocarbons from properties in which it owns royalty or net profits interests.

The trust’s principal interests include properties associated with the Waddell Ranch in Texas, as well as additional Texas royalty properties.