Permian Basin Royalty Trust (NYSE:PBT) Sets New 1-Year High Following Dividend Announcement

Permian Basin Royalty Trust (NYSE:PBT) shares hit a new 52-week high on Monday after the company announced a dividend. The company traded as high as $20.46 and last traded at $20.2560, with a volume of 176827 shares changing hands. The stock had previously closed at $19.33.

The newly announced dividend which will be paid on Friday, December 12th. Shareholders of record on Friday, November 28th will be paid a $0.0192 dividend. The ex-dividend date is Friday, November 28th. This represents a c) dividend on an annualized basis and a yield of 1.2%. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is currently 70.59%.

Wall Street Analysts Forecast Growth

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

Permian Basin Royalty Trust Trading Down 1.3%

The firm’s fifty day moving average price is $18.19 and its 200-day moving average price is $14.94. The firm has a market cap of $872.75 million, a price-to-earnings ratio of 52.01 and a beta of 0.59.

Permian Basin Royalty Trust (NYSE:PBT) last announced its quarterly earnings results on Thursday, November 13th. The oil and gas producer reported $0.15 earnings per share for the quarter. Permian Basin Royalty Trust had a net margin of 89.90% and a return on equity of 9,737.65%. The firm had revenue of $7.27 million during the quarter.

Institutional Trading of Permian Basin Royalty Trust

A number of large investors have recently made changes to their positions in the company. Geneos Wealth Management Inc. acquired a new position in Permian Basin Royalty Trust during the third quarter worth approximately $27,000. Foster Dykema Cabot & Partners LLC purchased a new position in shares of Permian Basin Royalty Trust during the third quarter worth approximately $40,000. NewEdge Advisors LLC increased its holdings in shares of 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 acquiring an additional 1,304 shares during the period. Access Investment Management LLC acquired a new position in shares of Permian Basin Royalty Trust in the 2nd quarter valued at $64,000. Finally, Atlantic Union Bankshares Corp purchased a new stake in Permian Basin Royalty Trust in the 2nd quarter valued at $81,000. 28.86% of the stock is owned by institutional investors and hedge funds.

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.