Permian Basin Royalty Trust (NYSE:PBT – Get Free Report)’s share price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $27.77 and traded as high as $33.71. Permian Basin Royalty Trust shares last traded at $32.84, with a volume of 68,147 shares trading hands.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Permian Basin Royalty Trust in a report on Tuesday, August 18th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.
Check Out Our Latest Stock Report on Permian Basin Royalty Trust
Permian Basin Royalty Trust Price Performance
Permian Basin Royalty Trust (NYSE:PBT – Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The oil and gas producer reported $0.08 earnings per share for the quarter. Permian Basin Royalty Trust had a return on equity of 9,990.08% and a net margin of 91.96%.The business had revenue of $4.18 million for the quarter.
Permian Basin Royalty Trust Increases Dividend
The company also recently declared a monthly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a dividend of $0.0196 per share. This is a boost from Permian Basin Royalty Trust’s previous monthly dividend of $0.0187. This represents a $0.24 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 30th. Permian Basin Royalty Trust’s dividend payout ratio is presently 62.86%.
Hedge Funds Weigh In On Permian Basin Royalty Trust
Institutional investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its position in Permian Basin Royalty Trust by 0.8% during the fourth quarter. HighTower Advisors LLC now owns 71,697 shares of the oil and gas producer’s stock valued at $1,217,000 after buying an additional 604 shares during the period. NewEdge Advisors LLC increased its stake in shares of Permian Basin Royalty Trust by 25.1% in the 2nd quarter. NewEdge Advisors LLC now owns 3,493 shares of the oil and gas producer’s stock worth $87,000 after acquiring an additional 701 shares in the last quarter. CX Institutional increased its stake in shares of Permian Basin Royalty Trust by 80.3% in the 2nd quarter. CX Institutional now owns 2,109 shares of the oil and gas producer’s stock worth $53,000 after acquiring an additional 939 shares in the last quarter. Welch Group LLC lifted its position in 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 acquiring an additional 1,500 shares during the period. Finally, Corient Private Wealth LP lifted its position in Permian Basin Royalty Trust by 10.4% during the 2nd quarter. Corient Private Wealth LP now owns 20,865 shares of the oil and gas producer’s stock valued at $522,000 after acquiring an additional 1,974 shares during the period. Institutional investors own 28.86% of the company’s stock.
About Permian Basin Royalty Trust
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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