Permian Basin Royalty Trust (NYSE:PBT) Sets New 1-Year High – Still a Buy?

Permian Basin Royalty Trust (NYSE:PBT)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $29.49 and last traded at $27.8270, with a volume of 46783 shares. The stock had previously closed at $29.01.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of Permian Basin Royalty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 30th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Permian Basin Royalty Trust Price Performance

The company’s fifty day moving average is $22.24 and its 200-day moving average is $19.73. The stock has a market cap of $1.31 billion, a PE ratio of 87.45 and a beta of 0.42.

Permian Basin Royalty Trust (NYSE:PBT) last issued its earnings results on Thursday, May 14th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter. Permian Basin Royalty Trust had a net margin of 88.99% and a return on equity of 9,061.81%. The firm had revenue of $3.57 million during the quarter.

Permian Basin Royalty Trust Increases Dividend

The company also recently declared a monthly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were given a dividend of $0.038 per share. This is a boost from Permian Basin Royalty Trust’s previous monthly dividend of $0.01. This represents a c) annualized dividend and a yield of 1.6%. The ex-dividend date was Thursday, April 30th. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is 143.75%.

Institutional Trading of Permian Basin Royalty Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PBT. Kestra Advisory Services LLC acquired a new stake in Permian Basin Royalty Trust during the fourth quarter valued at $28,000. Foster Dykema Cabot & Partners LLC acquired a new stake in Permian Basin Royalty Trust during the third quarter valued at $40,000. NewEdge Advisors LLC grew its position in Permian Basin Royalty Trust by 53.1% during the second quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer’s stock valued at $47,000 after buying an additional 1,304 shares during the period. Atlantic Union Bankshares Corp grew its position in Permian Basin Royalty Trust by 16.2% during the third quarter. Atlantic Union Bankshares Corp now owns 7,582 shares of the oil and gas producer’s stock valued at $138,000 after buying an additional 1,058 shares during the period. Finally, Bank of America Corp DE grew its position in Permian Basin Royalty Trust by 27.0% during the second quarter. Bank of America Corp DE now owns 13,037 shares of the oil and gas producer’s stock valued at $162,000 after buying an additional 2,769 shares during the period. Institutional investors and hedge funds own 28.86% of the company’s stock.

Permian Basin Royalty Trust Company Profile

Permian Basin Royalty Trust (NYSE: PBT) is a passive investment vehicle that holds overriding royalty interests in oil and gas properties located in the Permian Basin region of West Texas. Established in 1980 by Apache Oil Company, the Trust does not engage in exploration or production activities. Instead, it owns net profit interests on specified acreage, allowing unitholders to participate directly in the cash flows generated by hydrocarbon extraction without bearing the costs or risks associated with day-to-day field operations.

The Trust’s interests cover acreage predominantly in Reeves and Loving Counties, where mature wells have been developed over several decades.