Permian Basin Royalty Trust (NYSE:PBT) Announces Earnings Results

Permian Basin Royalty Trust (NYSE:PBT) released its earnings results on Thursday. The oil and gas producer reported $0.06 earnings per share for the quarter, Zacks reports. Permian Basin Royalty Trust had a return on equity of 9,053.88% and a net margin of 88.99%.The business had revenue of $3.57 million for the quarter.

Permian Basin Royalty Trust Trading Up 5.9%

Shares of Permian Basin Royalty Trust stock traded up $1.60 during trading on Friday, hitting $28.92. 282,230 shares of the stock traded hands, compared to its average volume of 193,923. The firm has a market cap of $1.35 billion, a P/E ratio of 90.38 and a beta of 0.42. Permian Basin Royalty Trust has a 52-week low of $10.67 and a 52-week high of $29.40. The stock’s fifty day simple moving average is $22.24 and its 200 day simple moving average is $19.72.

Permian Basin Royalty Trust Increases Dividend

The company also recently declared a monthly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were paid a dividend of $0.038 per share. This is an increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.01. This represents a c) annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Thursday, April 30th. Permian Basin Royalty Trust’s payout ratio is 143.75%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Permian Basin Royalty Trust

Several institutional investors have recently made changes to their positions in the company. Royal Bank of Canada increased its stake in shares of Permian Basin Royalty Trust by 6.0% during the fourth quarter. Royal Bank of Canada now owns 9,802 shares of the oil and gas producer’s stock valued at $166,000 after buying an additional 558 shares during the period. NewEdge Advisors LLC increased its stake in shares of Permian Basin Royalty Trust by 53.1% during 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 during the period. Kestra Advisory Services LLC purchased a new position in shares of Permian Basin Royalty Trust during the fourth quarter valued at $28,000. Creative Planning increased its stake in shares of Permian Basin Royalty Trust by 11.9% during the third quarter. Creative Planning now owns 16,778 shares of the oil and gas producer’s stock valued at $306,000 after buying an additional 1,783 shares during the period. Finally, Family Management Corp grew its stake in Permian Basin Royalty Trust by 16.8% in the third quarter. Family Management Corp now owns 14,747 shares of the oil and gas producer’s stock valued at $269,000 after purchasing an additional 2,124 shares during the last quarter. 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.