Permian Basin Royalty Trust (NYSE:PBT) Issues Quarterly Earnings Results

Permian Basin Royalty Trust (NYSE:PBT) issued its quarterly earnings data 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 company had revenue of $3.57 million for the quarter.

Permian Basin Royalty Trust Price Performance

Shares of NYSE:PBT traded up $1.60 during trading hours on Friday, hitting $28.92. 282,230 shares of the company’s stock traded hands, compared to its average volume of 193,923. Permian Basin Royalty Trust has a 1 year low of $10.67 and a 1 year high of $29.40. The business has a fifty day moving average price of $22.24 and a 200-day moving average price of $19.72. The firm has a market capitalization of $1.35 billion, a P/E ratio of 90.38 and a beta of 0.42.

Permian Basin Royalty Trust Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were given a dividend of $0.038 per share. This represents a c) annualized dividend and a dividend yield of 1.6%. This is a boost from Permian Basin Royalty Trust’s previous monthly dividend of $0.01. The ex-dividend date was Thursday, April 30th. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is presently 140.62%.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PBT. Creative Planning boosted its position in shares of Permian Basin Royalty Trust by 14.5% during the second quarter. Creative Planning now owns 14,995 shares of the oil and gas producer’s stock valued at $187,000 after buying an additional 1,903 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Permian Basin Royalty Trust by 2,233.8% during the second quarter. JPMorgan Chase & Co. now owns 104,298 shares of the oil and gas producer’s stock valued at $1,300,000 after buying an additional 99,829 shares during the period. XTX Topco Ltd purchased a new position in shares of Permian Basin Royalty Trust during the second quarter valued at approximately $188,000. NewEdge Advisors LLC boosted its position 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. Finally, Raymond James Financial Inc. boosted its position in shares of Permian Basin Royalty Trust by 145.1% during the second quarter. Raymond James Financial Inc. now owns 64,466 shares of the oil and gas producer’s stock valued at $803,000 after buying an additional 38,164 shares during the period. 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.