Permian Basin Royalty Trust (NYSE:PBT – Get Free Report) saw unusually-strong trading volume on Friday . 178,361 shares changed hands during mid-day trading, an increase of 39% from the previous session’s volume of 127,900 shares.The stock last traded at $35.21 and had previously closed at $34.86.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Permian Basin Royalty Trust in a report on Tuesday, August 18th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold”.
View Our Latest Stock Report on Permian Basin Royalty Trust
Permian Basin Royalty Trust Trading Up 1.6%
Permian Basin Royalty Trust (NYSE:PBT – Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The oil and gas producer reported $0.08 EPS for the quarter. The business had revenue of $4.18 million for the quarter. Permian Basin Royalty Trust had a return on equity of 9,990.08% and a net margin of 91.96%.
Permian Basin Royalty Trust Cuts Dividend
The firm also recently announced a monthly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were paid a dividend of $0.0187 per share. This represents a c) annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Monday, August 31st. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is 62.86%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PBT. Sei Investments Co. boosted its position in shares of Permian Basin Royalty Trust by 116.0% during the first quarter. Sei Investments Co. now owns 422,000 shares of the oil and gas producer’s stock worth $9,081,000 after acquiring an additional 226,600 shares during the last quarter. Horizon Kinetics Asset Management LLC increased its holdings 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 valued at $105,069,000 after acquiring an additional 88,751 shares during the last quarter. Moors & Cabot Inc. lifted its stake 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 purchasing an additional 55,456 shares in the last quarter. Mad River Investors lifted its stake 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 purchasing an additional 16,321 shares in the last quarter. Finally, Welch Group LLC boosted its holdings in shares of Permian Basin Royalty Trust by 8.4% during the 1st quarter. Welch Group LLC now owns 19,298 shares of the oil and gas producer’s stock valued at $415,000 after purchasing an additional 1,500 shares during the last quarter. 28.86% of the stock is currently owned by institutional investors.
Permian Basin Royalty Trust Company Profile
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.
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