Permian Basin Royalty Trust (NYSE:PBT) Stock Price Up 7% – Here’s Why

Permian Basin Royalty Trust (NYSE:PBT) shares were up 7% during trading on Tuesday . The stock traded as high as $27.55 and last traded at $27.0110. Approximately 85,006 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 115,665 shares. The stock had previously closed at $25.24.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Permian Basin Royalty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 30th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Permian Basin Royalty Trust Stock Up 11.0%

The stock’s fifty day moving average price is $21.60 and its 200-day moving average price is $19.44. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 87.47 and a beta of 0.42.

Permian Basin Royalty Trust (NYSE:PBT) last announced its earnings results on Friday, March 27th. The oil and gas producer reported $0.06 EPS for the quarter. Permian Basin Royalty Trust had a net margin of 89.06% and a return on equity of 8,774.67%. The business had revenue of $2.61 million during the quarter.

Permian Basin Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th will be issued a $0.038 dividend. This represents a c) annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Thursday, April 30th. This is a positive change from Permian Basin Royalty Trust’s previous monthly dividend of $0.01. Permian Basin Royalty Trust’s dividend payout ratio is 143.75%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. acquired a new position in shares of Permian Basin Royalty Trust during the 3rd quarter worth approximately $27,000. Kestra Advisory Services LLC acquired a new stake in shares of Permian Basin Royalty Trust in the 4th quarter valued at approximately $28,000. Foster Dykema Cabot & Partners LLC acquired a new stake in shares of Permian Basin Royalty Trust in the 3rd quarter valued at approximately $40,000. NewEdge Advisors LLC grew its stake in shares of Permian Basin Royalty Trust by 53.1% in the second quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer’s stock valued at $47,000 after buying an additional 1,304 shares in the last quarter. Finally, Atlantic Union Bankshares Corp increased its holdings in Permian Basin Royalty Trust by 16.2% during the third quarter. Atlantic Union Bankshares Corp now owns 7,582 shares of the oil and gas producer’s stock worth $138,000 after buying an additional 1,058 shares during the last quarter. 28.86% of the stock is owned by institutional investors and hedge funds.

Permian Basin Royalty Trust Company Profile

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.