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

Permian Basin Royalty Trust (NYSE:PBT) announced its earnings results on Thursday. The oil and gas producer reported $0.15 earnings per share for the quarter, Zacks reports. Permian Basin Royalty Trust had a net margin of 89.90% and a return on equity of 9,737.65%.

Permian Basin Royalty Trust Price Performance

PBT stock traded down $0.13 during mid-day trading on Thursday, reaching $19.36. The company had a trading volume of 26,793 shares, compared to its average volume of 139,245. The company has a market capitalization of $902.21 million, a PE ratio of 53.53 and a beta of 0.59. The firm has a 50 day moving average of $18.07 and a 200 day moving average of $14.64. Permian Basin Royalty Trust has a 12 month low of $8.01 and a 12 month high of $19.99.

Permian Basin Royalty Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 17th. Shareholders of record on Friday, October 31st will be given a $0.02 dividend. This represents a c) annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, October 31st. Permian Basin Royalty Trust’s payout ratio is 66.67%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. SoftVest Advisors LLC raised its stake in shares of Permian Basin Royalty Trust by 40.1% during the 2nd quarter. SoftVest Advisors LLC now owns 6,206,624 shares of the oil and gas producer’s stock worth $77,335,000 after acquiring an additional 1,776,929 shares in the last quarter. Bank of America Corp DE grew its holdings in Permian Basin Royalty Trust by 27.0% in 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 purchasing an additional 2,769 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Permian Basin Royalty Trust by 23.0% during the second quarter. Ameriprise Financial Inc. now owns 17,185 shares of the oil and gas producer’s stock worth $214,000 after purchasing an additional 3,213 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in shares of Permian Basin Royalty Trust by 145.1% during the 2nd quarter. Raymond James Financial Inc. now owns 64,466 shares of the oil and gas producer’s stock valued at $803,000 after purchasing an additional 38,164 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of Permian Basin Royalty Trust by 53.1% during the 2nd quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer’s stock valued at $47,000 after purchasing an additional 1,304 shares during the last quarter. 28.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

About Permian Basin Royalty Trust

Permian Basin Royalty Trust, an express trust, holds royalty interests in various oil and gas properties in the United States. The company holds a 75% net overriding royalty interest in the Waddell Ranch properties, including Dune, Sand Hills (Judkins), Sand Hills (McKnight), Sand Hills (Tubb), University-Waddell (Devonian) and Waddell fields in Crane County, Texas.