Permian Basin Royalty Trust (NYSE:PBT) Releases Earnings Results

Permian Basin Royalty Trust (NYSE:PBT) issued its quarterly earnings data on Friday. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, Zacks reports. The firm had revenue of $2.61 million for the quarter. Permian Basin Royalty Trust had a net margin of 88.68% and a return on equity of 9,354.51%.

Permian Basin Royalty Trust Stock Performance

Permian Basin Royalty Trust stock opened at $22.22 on Friday. The company’s 50 day simple moving average is $19.71 and its 200-day simple moving average is $18.57. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 69.45 and a beta of 0.43. Permian Basin Royalty Trust has a 1 year low of $8.01 and a 1 year high of $22.65.

Permian Basin Royalty Trust Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.0107 per share. The ex-dividend date is Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 0.6%. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is currently 53.13%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

A number of hedge funds have recently made changes to their positions in the stock. Kestra Advisory Services LLC acquired a new stake in Permian Basin Royalty Trust in the 4th quarter valued at approximately $28,000. NewEdge Advisors LLC lifted its stake in Permian Basin Royalty Trust by 53.1% during the second quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer’s stock worth $47,000 after purchasing an additional 1,304 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Permian Basin Royalty Trust by 27.0% during the second quarter. Bank of America Corp DE now owns 13,037 shares of the oil and gas producer’s stock worth $162,000 after buying an additional 2,769 shares during the period. Royal Bank of Canada boosted its position 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 worth $166,000 after buying an additional 558 shares during the period. Finally, Creative Planning grew its stake in shares of Permian Basin Royalty Trust by 14.5% in the second quarter. Creative Planning now owns 14,995 shares of the oil and gas producer’s stock valued at $187,000 after buying an additional 1,903 shares in the last quarter. Hedge funds and other institutional investors own 28.86% of the company’s stock.

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.