Permian Basin Royalty Trust (NYSE:PBT) Reaches New 12-Month High – Here’s What Happened

Permian Basin Royalty Trust (NYSE:PBT)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $37.00 and last traded at $36.0710, with a volume of 167506 shares traded. The stock had previously closed at $35.58.

Analyst Ratings Changes

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

Permian Basin Royalty Trust Price Performance

The firm has a market capitalization of $1.62 billion, a PE ratio of 99.57 and a beta of 0.50. The business’s 50 day moving average is $32.15 and its two-hundred day moving average is $27.12.

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

Permian Basin Royalty Trust Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were given a $0.0187 dividend. The ex-dividend date was Monday, August 31st. This represents a c) annualized dividend and a yield of 0.6%. Permian Basin Royalty Trust’s payout ratio is 62.86%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

A number of large investors have recently added to or reduced their stakes in the company. Horizon Kinetics Asset Management LLC increased its position in shares of Permian Basin Royalty Trust by 1.5% during 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 purchasing an additional 88,751 shares during the last quarter. Mad River Investors lifted its position in 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 worth $21,588,000 after buying an additional 16,321 shares during the last quarter. Moors & Cabot Inc. lifted its position in 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 worth $9,946,000 after buying an additional 55,456 shares during the last quarter. Sei Investments Co. boosted its stake in Permian Basin Royalty Trust by 116.0% in the first quarter. Sei Investments Co. now owns 422,000 shares of the oil and gas producer’s stock worth $9,081,000 after buying an additional 226,600 shares in the last quarter. Finally, Lido Advisors LLC boosted its stake in Permian Basin Royalty Trust by 3.5% in the fourth quarter. Lido Advisors LLC now owns 122,523 shares of the oil and gas producer’s stock worth $2,244,000 after buying an additional 4,182 shares in the last quarter. Hedge funds and other institutional investors own 28.86% of the company’s stock.

About Permian Basin Royalty Trust

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.