Permian Basin Royalty Trust (NYSE:PBT) Hits New 1-Year High – Here’s What Happened

Permian Basin Royalty Trust (NYSE:PBT) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $20.65 and last traded at $20.33, with a volume of 144899 shares traded. The stock had previously closed at $19.79.

Permian Basin Royalty Trust Trading Up 3.0%

The company has a market capitalization of $962.50 million, a PE ratio of 60.74 and a beta of 0.43. The business’s fifty day moving average is $18.55 and its two-hundred day moving average is $18.07.

Permian Basin Royalty Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be given a dividend of $0.0142 per share. The ex-dividend date is Friday, February 27th. This represents a c) dividend on an annualized basis and a yield of 0.8%. Permian Basin Royalty Trust’s dividend payout ratio is 50.00%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Geneos Wealth Management Inc. bought a new position in Permian Basin Royalty Trust in the third quarter worth approximately $27,000. Kestra Advisory Services LLC bought a new position in shares of Permian Basin Royalty Trust in the fourth quarter worth approximately $28,000. Foster Dykema Cabot & Partners LLC bought a new position in Permian Basin Royalty Trust in the 3rd quarter worth $40,000. NewEdge Advisors LLC boosted its stake in shares of Permian Basin Royalty Trust by 53.1% in the second 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. Finally, Atlantic Union Bankshares Corp purchased a new stake in Permian Basin Royalty Trust during the 2nd quarter valued at approximately $81,000. Institutional investors 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.