Permian Basin Royalty Trust (NYSE:PBT) Sets New 12-Month High After Dividend Announcement

Permian Basin Royalty Trust (NYSE:PBT) hit a new 52-week high during trading on Monday following a dividend announcement from the company. The stock traded as high as $20.46 and last traded at $20.2560, with a volume of 176827 shares trading hands. The stock had previously closed at $19.33.

The newly announced dividend which will be paid on Friday, December 12th. Investors of record on Friday, November 28th will be issued a $0.0192 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a c) annualized dividend and a yield of 1.2%. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is 70.59%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Permian Basin Royalty Trust in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Permian Basin Royalty Trust Stock Down 1.3%

The stock has a market capitalization of $872.75 million, a P/E ratio of 52.01 and a beta of 0.59. The company has a 50-day moving average price of $18.19 and a two-hundred day moving average price of $14.94.

Permian Basin Royalty Trust (NYSE:PBT) last posted its earnings results on Thursday, November 13th. The oil and gas producer reported $0.15 earnings per share for the quarter. Permian Basin Royalty Trust had a net margin of 89.90% and a return on equity of 9,737.65%. The business had revenue of $7.27 million for the quarter.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Several large investors have recently added to or reduced their stakes in PBT. Geneos Wealth Management Inc. purchased a new position in Permian Basin Royalty Trust during the third quarter worth about $27,000. Foster Dykema Cabot & Partners LLC purchased a new position in shares of Permian Basin Royalty Trust during the third quarter worth about $40,000. NewEdge Advisors LLC grew its holdings 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 worth $47,000 after purchasing an additional 1,304 shares in the last quarter. Access Investment Management LLC bought a new position in shares of Permian Basin Royalty Trust in the second quarter worth approximately $64,000. Finally, Atlantic Union Bankshares Corp purchased a new stake in Permian Basin Royalty Trust in the second quarter valued at approximately $81,000. Institutional investors own 28.86% of the company’s stock.

About Permian Basin Royalty Trust

Permian Basin Royalty Trust, an express trust, holds royalty interests in various oil and gas properties in the United States. The company holds a 75% net overriding royalty interest in the Waddell Ranch properties, including Dune, Sand Hills (Judkins), Sand Hills (McKnight), Sand Hills (Tubb), University-Waddell (Devonian) and Waddell fields in Crane County, Texas.