Shares of Permian Basin Royalty Trust (NYSE:PBT – Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $25.56, but opened at $24.54. Permian Basin Royalty Trust shares last traded at $24.8450, with a volume of 2,808 shares.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings upgraded Permian Basin Royalty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 21st. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.
View Our Latest Research Report on Permian Basin Royalty Trust
Permian Basin Royalty Trust Stock Performance
Permian Basin Royalty Trust (NYSE:PBT – Get Free Report) last issued its earnings results on Thursday, May 14th. The oil and gas producer reported $0.06 earnings per share for the quarter. Permian Basin Royalty Trust had a net margin of 88.99% and a return on equity of 9,061.81%. The firm had revenue of $3.57 million during the quarter.
Permian Basin Royalty Trust Increases Dividend
The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.0247 dividend. The ex-dividend date is Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 1.2%. This is a positive change from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is presently 75.00%.
Institutional Investors Weigh In On Permian Basin Royalty Trust
Several institutional investors have recently made changes to their positions in PBT. MOR Wealth Management LLC bought a new position in shares of Permian Basin Royalty Trust in the fourth quarter valued at approximately $892,000. HighTower Advisors LLC increased its holdings in Permian Basin Royalty Trust by 75.4% during the 3rd quarter. HighTower Advisors LLC now owns 71,093 shares of the oil and gas producer’s stock worth $1,298,000 after acquiring an additional 30,556 shares during the period. Mad River Investors lifted its stake in Permian Basin Royalty Trust by 7.0% in the 4th quarter. Mad River Investors now owns 986,819 shares of the oil and gas producer’s stock worth $16,756,000 after purchasing an additional 64,589 shares in the last quarter. Horizon Kinetics Asset Management LLC lifted its stake in Permian Basin Royalty Trust by 1.5% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 6,187,800 shares of the oil and gas producer’s stock worth $105,069,000 after purchasing an additional 88,751 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its holdings 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 valued at $9,946,000 after purchasing an additional 55,456 shares during the period. Hedge funds and other institutional investors own 28.86% of the company’s stock.
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.
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