Permian Basin Royalty Trust (NYSE:PBT) Hits New 12-Month High – Here’s Why

Permian Basin Royalty Trust (NYSE:PBT) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $22.80 and last traded at $22.51, with a volume of 10875 shares traded. The stock had previously closed at $22.29.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Permian Basin Royalty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 30th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

Permian Basin Royalty Trust Stock Performance

The company has a market cap of $1.05 billion, a price-to-earnings ratio of 70.15 and a beta of 0.41. The stock’s fifty day simple moving average is $21.23 and its two-hundred day simple moving average is $19.21.

Permian Basin Royalty Trust (NYSE:PBT) last announced its quarterly earnings results on Friday, March 27th. The oil and gas producer reported $0.06 earnings per share for the quarter. The company had revenue of $2.61 million for the quarter. Permian Basin Royalty Trust had a net margin of 89.06% and a return on equity of 8,774.67%.

Permian Basin Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th will be issued a $0.038 dividend. This is a boost from Permian Basin Royalty Trust’s previous monthly dividend of $0.01. The ex-dividend date is Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 2.0%. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is 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 business. SoftVest Advisors LLC raised its stake in shares of Permian Basin Royalty Trust by 40.1% in the 2nd quarter. SoftVest Advisors LLC now owns 6,206,624 shares of the oil and gas producer’s stock valued at $77,335,000 after acquiring an additional 1,776,929 shares during the period. Horizon Kinetics Asset Management LLC raised its stake in shares of Permian Basin Royalty Trust by 1.5% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 6,187,800 shares of the oil and gas producer’s stock valued at $105,069,000 after acquiring an additional 88,751 shares during the period. Mad River Investors raised its stake in shares of Permian Basin Royalty Trust by 1.7% in the 1st quarter. Mad River Investors now owns 1,003,140 shares of the oil and gas producer’s stock valued at $21,588,000 after acquiring an additional 16,321 shares during the period. Moors & Cabot Inc. raised its stake in shares of Permian Basin Royalty Trust by 10.5% in the 4th quarter. Moors & Cabot Inc. now owns 585,746 shares of the oil and gas producer’s stock valued at $9,946,000 after acquiring an additional 55,456 shares during the period. Finally, Hosking Partners LLP raised its stake in shares of Permian Basin Royalty Trust by 12.8% in the 4th quarter. Hosking Partners LLP now owns 346,683 shares of the oil and gas producer’s stock valued at $5,887,000 after acquiring an additional 39,230 shares during the period. 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.