Permian Basin Royalty Trust (NYSE:PBT) Shares Gap Down – Should You Sell?

Shares of Permian Basin Royalty Trust (NYSE:PBT) gapped down prior to trading on Thursday . The stock had previously closed at $25.56, but opened at $24.54. Permian Basin Royalty Trust shares last traded at $24.8450, with a volume of 2,808 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Permian Basin Royalty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 21st. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Permian Basin Royalty Trust Stock Up 1.2%

The firm has a market capitalization of $1.17 billion, a P/E ratio of 78.47 and a beta of 0.49. The firm’s 50-day simple moving average is $26.18 and its 200-day simple moving average is $21.66.

Permian Basin Royalty Trust (NYSE:PBT) last posted its quarterly earnings data on Thursday, May 14th. The oil and gas producer reported $0.06 earnings per share 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 for the quarter.

Permian Basin Royalty Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.0247 per share. This represents a c) annualized dividend and a yield of 1.2%. This is an increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. The ex-dividend date of this dividend is Tuesday, June 30th. Permian Basin Royalty Trust’s dividend payout ratio is presently 75.00%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

Several institutional investors have recently modified their holdings of PBT. Sei Investments Co. lifted its position in Permian Basin Royalty Trust by 116.0% in the 1st 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 last quarter. Mad River Investors grew its position in Permian Basin Royalty Trust by 1.7% during the first quarter. Mad River Investors now owns 1,003,140 shares of the oil and gas producer’s stock valued at $21,588,000 after acquiring an additional 16,321 shares during the last quarter. Welch Group LLC grew 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 acquiring an additional 1,500 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Permian Basin Royalty Trust during the fourth quarter worth approximately $230,000. Finally, Avondale Wealth Management raised its stake in shares of Permian Basin Royalty Trust by 215.5% during the fourth quarter. Avondale Wealth Management now owns 45,750 shares of the oil and gas producer’s stock worth $777,000 after acquiring an additional 31,250 shares in the last quarter. 28.86% of the stock is currently owned by institutional investors.

About Permian Basin Royalty Trust

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.