Permian Basin Royalty Trust (NYSE:PBT – Get Free Report) issued its quarterly earnings data on Thursday. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, Zacks reports. The firm had revenue of $3.57 million for the quarter. Permian Basin Royalty Trust had a net margin of 88.99% and a return on equity of 9,053.88%.
Permian Basin Royalty Trust Stock Up 5.9%
NYSE PBT traded up $1.60 during trading on Friday, hitting $28.92. The stock had a trading volume of 282,230 shares, compared to its average volume of 193,923. The company has a market capitalization of $1.35 billion, a PE ratio of 90.38 and a beta of 0.42. The firm has a 50 day moving average price of $22.24 and a 200 day moving average price of $19.72. Permian Basin Royalty Trust has a twelve month low of $10.67 and a twelve month high of $29.40.
Permian Basin Royalty Trust Increases Dividend
The company also recently announced a monthly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were given a $0.038 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a c) annualized dividend and a yield of 1.6%. This is an increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.01. Permian Basin Royalty Trust’s dividend payout ratio is presently 143.75%.
Analyst Ratings Changes
Check Out Our Latest Stock Report on Permian Basin Royalty Trust
Hedge Funds Weigh In On Permian Basin Royalty Trust
Several institutional investors have recently bought and sold shares of PBT. Creative Planning grew its position in Permian Basin Royalty Trust by 14.5% in the 2nd quarter. Creative Planning now owns 14,995 shares of the oil and gas producer’s stock valued at $187,000 after acquiring an additional 1,903 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Permian Basin Royalty Trust by 2,233.8% during the second quarter. JPMorgan Chase & Co. now owns 104,298 shares of the oil and gas producer’s stock worth $1,300,000 after buying an additional 99,829 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Permian Basin Royalty Trust during the second quarter worth about $188,000. NewEdge Advisors LLC grew its position in shares of Permian Basin Royalty Trust by 53.1% during the second quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer’s stock worth $47,000 after buying an additional 1,304 shares in the last quarter. Finally, Raymond James Financial Inc. grew its position in shares of Permian Basin Royalty Trust by 145.1% during the second quarter. Raymond James Financial Inc. now owns 64,466 shares of the oil and gas producer’s stock worth $803,000 after buying an additional 38,164 shares in the last quarter. 28.86% of the stock is owned by institutional investors and hedge funds.
About Permian Basin Royalty Trust
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.
Read More
- Five stocks we like better than Permian Basin Royalty Trust
- Viking Sails to All-Time Highs—Fundamentals Signal More to Come
- Datavalut Gains Traction: 5 Reasons to Sell Now
- TMC Stock: Why This Pre-Revenue Miner Is Worth Watching
- The Power Grid Is Dying—Is It Time to Buy Its Replacement?
Receive News & Ratings for Permian Basin Royalty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Permian Basin Royalty Trust and related companies with MarketBeat.com's FREE daily email newsletter.
