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

Permian Basin Royalty Trust (NYSE:PBT) issued its quarterly earnings results on Thursday. The oil and gas producer reported $0.15 earnings per share for the quarter, Zacks reports. Permian Basin Royalty Trust had a return on equity of 9,737.65% and a net margin of 89.90%.The company had revenue of $7.27 million for the quarter.

Permian Basin Royalty Trust Trading Up 4.6%

NYSE:PBT traded up $0.89 during mid-day trading on Friday, hitting $20.22. The company had a trading volume of 131,739 shares, compared to its average volume of 139,303. The business has a fifty day simple moving average of $18.10 and a 200-day simple moving average of $14.68. The firm has a market capitalization of $942.43 million, a price-to-earnings ratio of 56.17 and a beta of 0.59. Permian Basin Royalty Trust has a 1 year low of $8.01 and a 1 year high of $20.44.

Permian Basin Royalty Trust Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, November 17th. Investors of record on Friday, October 31st will be issued a $0.02 dividend. This represents a c) annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, October 31st. Permian Basin Royalty Trust’s dividend payout ratio is currently 70.59%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Permian Basin Royalty Trust in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Hedge funds have recently modified their holdings of the stock. SoftVest Advisors LLC lifted its position in Permian Basin Royalty Trust by 40.1% during the 2nd quarter. SoftVest Advisors LLC now owns 6,206,624 shares of the oil and gas producer’s stock worth $77,335,000 after acquiring an additional 1,776,929 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Permian Basin Royalty Trust by 2,233.8% during the second quarter. JPMorgan Chase & Co. now owns 104,298 shares of the oil and gas producer’s stock worth $1,300,000 after purchasing an additional 99,829 shares in the last quarter. UBS Group AG lifted its position in shares of Permian Basin Royalty Trust by 170.1% during the third quarter. UBS Group AG now owns 147,578 shares of the oil and gas producer’s stock worth $2,693,000 after purchasing an additional 92,936 shares in the last quarter. Raymond James Financial Inc. boosted its stake in shares of Permian Basin Royalty Trust by 145.1% in the second quarter. Raymond James Financial Inc. now owns 64,466 shares of the oil and gas producer’s stock valued at $803,000 after purchasing an additional 38,164 shares during the period. Finally, XTX Topco Ltd acquired a new stake in Permian Basin Royalty Trust during the 2nd quarter valued at $188,000. 28.86% of the stock is currently owned by hedge funds and other institutional investors.

About Permian Basin Royalty Trust

Permian Basin Royalty Trust, an express trust, holds royalty interests in various oil and gas properties in the United States. The company holds a 75% net overriding royalty interest in the Waddell Ranch properties, including Dune, Sand Hills (Judkins), Sand Hills (McKnight), Sand Hills (Tubb), University-Waddell (Devonian) and Waddell fields in Crane County, Texas.