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

Permian Basin Royalty Trust (NYSE:PBT) issued its earnings results on Thursday. The oil and gas producer reported $0.08 earnings per share (EPS) for the quarter, Zacks reports. Permian Basin Royalty Trust had a return on equity of 9,980.02% and a net margin of 91.96%.The business had revenue of $4.18 million during the quarter.

Permian Basin Royalty Trust Stock Down 2.5%

Shares of NYSE PBT traded down $0.83 during midday trading on Friday, hitting $32.66. The stock had a trading volume of 141,433 shares, compared to its average volume of 153,221. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 93.33 and a beta of 0.48. Permian Basin Royalty Trust has a 1-year low of $14.81 and a 1-year high of $35.42. The company has a fifty day moving average price of $28.14 and a 200 day moving average price of $24.46.

Permian Basin Royalty Trust Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a $0.0436 dividend. This is a positive change from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. The ex-dividend date was Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 1.6%. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is 162.50%.

Analyst Upgrades and Downgrades

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

Institutional Trading of Permian Basin Royalty Trust

Large investors have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC purchased a new stake in shares of Permian Basin Royalty Trust in the fourth quarter worth about $28,000. 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 worth $47,000 after acquiring an additional 1,304 shares during the period. Bank of America Corp DE grew its position in Permian Basin Royalty Trust by 27.0% in 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 acquiring an additional 2,769 shares in the last quarter. Royal Bank of Canada raised its stake in shares of 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 valued at $166,000 after purchasing an additional 558 shares during the period. Finally, Creative Planning lifted its position in shares of Permian Basin Royalty Trust by 14.5% during the second quarter. Creative Planning now owns 14,995 shares of the oil and gas producer’s stock worth $187,000 after purchasing an additional 1,903 shares in the last quarter. 28.86% of the stock is currently owned by institutional investors and hedge funds.

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.