Permian Basin Royalty Trust (NYSE:PBT – Get Free Report)’s stock price dropped 5.8% during trading on Tuesday. The company traded as low as $29.70 and last traded at $29.79. 11,963 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 133,203 shares. The stock had previously closed at $31.62.
Analyst Ratings Changes
Separately, Weiss Ratings raised Permian Basin Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. One equities research analyst has rated the stock with a Hold rating. According to data from MarketBeat, the company presently has an average rating of “Hold”.
Read Our Latest Report on Permian Basin Royalty Trust
Permian Basin Royalty Trust Stock Up 0.3%
The company has a 50 day simple moving average of $33.53 and a 200-day simple moving average of $26.93. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 81.61 and a beta of 0.39.
Permian Basin Royalty Trust (NYSE:PBT – Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The oil and gas producer reported $0.08 earnings per share for the quarter. The firm had revenue of $4.18 million for the quarter. Permian Basin Royalty Trust had a net margin of 91.96% and a return on equity of 9,990.08%.
Permian Basin Royalty Trust Increases Dividend
The company also recently announced a monthly dividend, which will be paid on Monday, November 16th. Investors of record on Friday, October 30th will be issued a dividend of $0.0452 per share. The ex-dividend date of this dividend is Friday, October 30th. This is a positive change from Permian Basin Royalty Trust’s previous monthly dividend of $0.0196. This represents a $0.54 annualized dividend and a yield of 1.9%. Permian Basin Royalty Trust’s dividend payout ratio is presently 154.29%.
Hedge Funds Weigh In On Permian Basin Royalty Trust
Several large investors have recently made changes to their positions in PBT. CX Institutional grew its holdings in shares of Permian Basin Royalty Trust by 31.5% in the 3rd quarter. CX Institutional now owns 2,773 shares of the oil and gas producer’s stock worth $87,000 after acquiring an additional 664 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Permian Basin Royalty Trust by 25.1% in the second quarter. NewEdge Advisors LLC now owns 3,493 shares of the oil and gas producer’s stock valued at $87,000 after acquiring an additional 701 shares during the last quarter. Post Resch Tallon Group Inc. boosted its stake in shares of Permian Basin Royalty Trust by 10.2% during the 3rd quarter. Post Resch Tallon Group Inc. now owns 9,261 shares of the oil and gas producer’s stock worth $292,000 after acquiring an additional 859 shares in the last quarter. Corient Private Wealth LP lifted its stake in shares of Permian Basin Royalty Trust by 10.4% in the second quarter. Corient Private Wealth LP now owns 20,865 shares of the oil and gas producer’s stock worth $522,000 after buying an additional 1,974 shares during the last quarter. Finally, Lido Advisors LLC grew its position in shares of Permian Basin Royalty Trust by 3.6% in the third quarter. Lido Advisors LLC now owns 122,059 shares of the oil and gas producer’s stock valued at $3,842,000 after purchasing an additional 4,217 shares during the last quarter. Institutional investors own 28.86% of the company’s stock.
Permian Basin Royalty Trust Company Profile
Permian Basin Royalty Trust (NYSE: PBT) 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 explore for, develop, or operate properties itself. Instead, it receives proceeds generated from the production and sale of hydrocarbons from properties in which it owns royalty or net profits interests.
The trust’s principal interests include properties associated with the Waddell Ranch in Texas, as well as additional Texas royalty properties.
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