Permian Basin Royalty Trust (NYSE:PBT) Shares Down 4% – What’s Next?

Shares of Permian Basin Royalty Trust (NYSE:PBT) were down 4% during trading on Monday . The stock traded as low as $34.03 and last traded at $33.8710. 11,244 shares changed hands during trading, a decline of 91% from the average daily volume of 127,594 shares. The stock had previously closed at $35.30.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Permian Basin Royalty Trust in a research report on Tuesday, August 18th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

Permian Basin Royalty Trust Price Performance

The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 96.14 and a beta of 0.50. The firm has a 50 day simple moving average of $32.32 and a two-hundred day simple moving average of $27.22.

Permian Basin Royalty Trust (NYSE:PBT) last posted its earnings results on Thursday, August 13th. The oil and gas producer reported $0.08 earnings per share (EPS) for the quarter. Permian Basin Royalty Trust had a return on equity of 9,990.08% and a net margin of 91.96%.The firm had revenue of $4.18 million during the quarter.

Permian Basin Royalty Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a $0.0196 dividend. This represents a c) dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 30th. This is a boost from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is currently 62.86%.

Institutional Trading of Permian Basin Royalty Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Sei Investments Co. increased its stake in shares of Permian Basin Royalty Trust by 116.0% during the 1st quarter. Sei Investments Co. now owns 422,000 shares of the oil and gas producer’s stock worth $9,081,000 after purchasing an additional 226,600 shares during the last quarter. Horizon Kinetics Asset Management LLC increased its holdings in shares of Permian Basin Royalty Trust by 1.5% in the fourth 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 purchasing an additional 88,751 shares during the last quarter. Moors & Cabot Inc. increased its holdings in shares of Permian Basin Royalty Trust by 10.5% in the fourth quarter. Moors & Cabot Inc. now owns 585,746 shares of the oil and gas producer’s stock valued at $9,946,000 after purchasing an additional 55,456 shares during the last quarter. Mad River Investors raised its position in shares of Permian Basin Royalty Trust by 1.7% in the first quarter. Mad River Investors now owns 1,003,140 shares of the oil and gas producer’s stock valued at $21,588,000 after purchasing an additional 16,321 shares during the period. Finally, State of Wyoming lifted its position in Permian Basin Royalty Trust by 34.6% during the fourth quarter. State of Wyoming now owns 44,257 shares of the oil and gas producer’s stock worth $751,000 after acquiring an additional 11,383 shares during 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 is a grantor trust that holds interests in oil and natural gas properties located in the Permian Basin of West Texas. The trust does not operate wells or directly market hydrocarbons; instead, it receives royalty and overriding royalty income from production associated with its underlying properties.

The trust’s interests primarily include properties in the Waddell Ranch area of Crane County, Texas, along with other royalty properties in the state. Revenue is derived from the sale of crude oil, natural gas and natural gas liquids produced by the operators of these properties.