Permian Basin Royalty Trust (NYSE:PBT) Sets New 12-Month High – Here’s What Happened

Permian Basin Royalty Trust (NYSE:PBT) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $35.52 and last traded at $35.33, with a volume of 11963 shares traded. The stock had previously closed at $35.27.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Permian Basin Royalty Trust in a research report on Tuesday, August 18th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Permian Basin Royalty Trust Trading Down 0.1%

The company has a market capitalization of $1.64 billion, a PE ratio of 100.73 and a beta of 0.50. The stock’s 50-day moving average is $30.98 and its two-hundred day moving average is $26.46.

Permian Basin Royalty Trust (NYSE:PBT) last announced its earnings results on Thursday, August 13th. The oil and gas producer reported $0.08 earnings per share (EPS) for the quarter. The business had revenue of $4.18 million during the quarter. Permian Basin Royalty Trust had a return on equity of 9,990.08% and a net margin of 91.96%.

Permian Basin Royalty Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a dividend of $0.0187 per share. The ex-dividend date is Monday, August 31st. This represents a c) dividend on an annualized basis and a yield of 0.6%. Permian Basin Royalty Trust’s payout ratio is presently 62.86%.

Institutional Trading of Permian Basin Royalty Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Tidal Investments LLC purchased a new stake in shares of Permian Basin Royalty Trust during the second quarter valued at $211,000. Integrated Wealth Concepts LLC bought a new stake in Permian Basin Royalty Trust during the 2nd quarter valued at about $114,000. NewEdge Advisors LLC lifted its holdings in Permian Basin Royalty Trust by 25.1% during the 2nd quarter. NewEdge Advisors LLC now owns 3,493 shares of the oil and gas producer’s stock valued at $87,000 after buying an additional 701 shares in the last quarter. Corient Private Wealth LP boosted its position in Permian Basin Royalty Trust by 10.4% in 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 buying an additional 1,974 shares during the period. Finally, Post Resch Tallon Group Inc. purchased a new stake in Permian Basin Royalty Trust in the 2nd quarter valued at about $210,000. Hedge funds and other institutional investors own 28.86% of the company’s stock.

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.