Permian Basin Royalty Trust (NYSE:PBT) Trading 6.2% Higher – Still a Buy?

Permian Basin Royalty Trust (NYSE:PBT)’s share price rose 6.2% during mid-day trading on Thursday . The company traded as high as $35.00 and last traded at $35.22. Approximately 15,828 shares traded hands during trading, a decline of 88% from the average daily volume of 131,461 shares. The stock had previously closed at $33.17.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Permian Basin Royalty Trust in a research report on Tuesday. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Permian Basin Royalty Trust Price Performance

The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 98.54 and a beta of 0.48. The firm has a fifty day moving average of $28.44 and a 200 day moving average of $24.81.

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

Permian Basin Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a dividend of $0.0436 per share. The ex-dividend date was Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 1.5%. This is a boost from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. Permian Basin Royalty Trust’s payout ratio is presently 148.57%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada increased its position in Permian Basin Royalty Trust by 6.0% during the fourth quarter. Royal Bank of Canada now owns 9,802 shares of the oil and gas producer’s stock worth $166,000 after purchasing an additional 558 shares during the last quarter. HighTower Advisors LLC raised its stake in Permian Basin Royalty Trust by 0.8% during the fourth quarter. HighTower Advisors LLC now owns 71,697 shares of the oil and gas producer’s stock worth $1,217,000 after purchasing an additional 604 shares during the period. CX Institutional boosted its holdings in Permian Basin Royalty Trust by 80.3% in the 2nd quarter. CX Institutional now owns 2,109 shares of the oil and gas producer’s stock valued at $53,000 after purchasing an additional 939 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in Permian Basin Royalty Trust by 53.1% in the 2nd quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer’s stock valued at $47,000 after purchasing an additional 1,304 shares during the last quarter. Finally, Welch Group LLC grew its stake in shares of Permian Basin Royalty Trust by 8.4% in the 1st quarter. Welch Group LLC now owns 19,298 shares of the oil and gas producer’s stock valued at $415,000 after buying an additional 1,500 shares during the period. Institutional investors and hedge funds own 28.86% of the company’s stock.

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.