Permian Basin Royalty Trust (NYSE:PBT) Stock Price Up 4.7% Following Dividend Announcement

Shares of Permian Basin Royalty Trust (NYSE:PBT) rose 4.7% during mid-day trading on Friday following a dividend announcement from the company. The company traded as high as $12.12 and last traded at $12.12. Approximately 16,823 shares changed hands during trading, a decline of 88% from the average daily volume of 139,665 shares. The stock had previously closed at $11.58.

The newly announced dividend which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be issued a dividend of $0.0882 per share. This represents a $1.06 annualized dividend and a yield of 8.71%. The ex-dividend date is Monday, April 29th. Permian Basin Royalty Trust’s dividend payout ratio is presently 83.33%.

Permian Basin Royalty Trust Stock Performance

The firm has a market capitalization of $566.31 million, a PE ratio of 20.25 and a beta of 0.59. The company has a fifty day moving average price of $12.75 and a 200-day moving average price of $15.29.

Permian Basin Royalty Trust (NYSE:PBT) last announced its quarterly earnings results on Thursday, February 29th. The oil and gas producer reported $0.31 earnings per share for the quarter. Permian Basin Royalty Trust had a net margin of 96.16% and a return on equity of 13,667.19%. The company had revenue of $14.44 million for the quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. SoftVest Advisors LLC raised its stake in shares of Permian Basin Royalty Trust by 1.0% during the fourth quarter. SoftVest Advisors LLC now owns 4,148,095 shares of the oil and gas producer’s stock valued at $104,532,000 after acquiring an additional 39,900 shares in the last quarter. Schwartz Investment Counsel Inc. lifted its holdings in shares of Permian Basin Royalty Trust by 40.6% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 803,849 shares of the oil and gas producer’s stock worth $11,254,000 after buying an additional 232,000 shares during the period. Foundation Resource Management Inc. grew its position in shares of Permian Basin Royalty Trust by 0.8% during the 1st quarter. Foundation Resource Management Inc. now owns 682,634 shares of the oil and gas producer’s stock worth $8,260,000 after buying an additional 5,671 shares in the last quarter. UBS Group AG increased its stake in shares of Permian Basin Royalty Trust by 1.5% during the third quarter. UBS Group AG now owns 479,363 shares of the oil and gas producer’s stock valued at $10,186,000 after buying an additional 7,142 shares during the period. Finally, Hosking Partners LLP raised its holdings in shares of Permian Basin Royalty Trust by 6.0% in the third quarter. Hosking Partners LLP now owns 470,891 shares of the oil and gas producer’s stock valued at $10,006,000 after acquiring an additional 26,826 shares in the last quarter. 28.86% of the stock is owned by hedge funds and other institutional investors.

Permian Basin Royalty Trust Company Profile

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.