Permian Basin Royalty Trust (NYSE:PBT) Posts Quarterly Earnings Results

Permian Basin Royalty Trust (NYSE:PBT) released its quarterly earnings results on Monday. The oil and gas producer reported $0.08 earnings per share for the quarter, Zacks reports. Permian Basin Royalty Trust had a return on equity of 9,990.08% and a net margin of 91.96%.

Permian Basin Royalty Trust Price Performance

NYSE PBT traded up $1.27 on Monday, reaching $30.20. The company had a trading volume of 84,450 shares, compared to its average volume of 134,038. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 86.28 and a beta of 0.39. Permian Basin Royalty Trust has a fifty-two week low of $16.25 and a fifty-two week high of $37.00. The business has a 50 day moving average of $33.34 and a two-hundred day moving average of $27.03.

Permian Basin Royalty Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 16th. Investors of record on Friday, October 30th will be paid a $0.0452 dividend. This is a positive change from Permian Basin Royalty Trust’s previous monthly dividend of $0.0196. This represents a $0.54 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, October 30th. Permian Basin Royalty Trust’s payout ratio is presently 154.29%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Permian Basin Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Hold rating. According to MarketBeat, Permian Basin Royalty Trust has an average rating of “Hold”.

Permian Basin Royalty Trust Company Profile

Permian Basin Royalty Trust (NYSE: PBT) 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 explore for, develop, or operate properties itself. Instead, it receives proceeds generated from the production and sale of hydrocarbons from properties in which it owns royalty or net profits interests.

The trust’s principal interests include properties associated with the Waddell Ranch in Texas, as well as additional Texas royalty properties.