Permian Basin Royalty Trust (NYSE:PBT) Hits New 52-Week High – What’s Next?

Shares of Permian Basin Royalty Trust (NYSE:PBT) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $20.46 and last traded at $20.2560, with a volume of 176827 shares changing hands. The stock had previously closed at $19.33.

Analysts Set New Price Targets

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

Permian Basin Royalty Trust Trading Down 5.3%

The firm has a market cap of $901.74 million, a price-to-earnings ratio of 54.11 and a beta of 0.59. The stock’s fifty day moving average price is $18.15 and its 200-day moving average price is $14.82.

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

Permian Basin Royalty Trust Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 17th. Stockholders of record on Friday, October 31st will be issued a dividend of $0.02 per share. The ex-dividend date is Friday, October 31st. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. Permian Basin Royalty Trust’s dividend payout ratio is currently 70.59%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of 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 3rd quarter worth approximately $40,000. NewEdge Advisors LLC boosted its position in shares of Permian Basin Royalty Trust by 53.1% during the 2nd 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 during the period. Access Investment Management LLC acquired a new stake in Permian Basin Royalty Trust in the 2nd quarter valued at 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 and hedge funds own 28.86% of the company’s stock.

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.