Permian Basin Royalty Trust (NYSE:PBT) Stock Price Up 4.5% – Time to Buy?

Shares of Permian Basin Royalty Trust (NYSE:PBT) rose 4.5% on Monday . The stock traded as high as $27.49 and last traded at $27.3820. 11,282 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 129,200 shares. The stock had previously closed at $26.20.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Permian Basin Royalty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 21st. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Permian Basin Royalty Trust Stock Up 6.5%

The firm has a fifty day moving average price of $26.99 and a two-hundred day moving average price of $22.33. The stock has a market capitalization of $1.30 billion, a P/E ratio of 87.18 and a beta of 0.48.

Permian Basin Royalty Trust (NYSE:PBT) last announced its quarterly earnings results on Thursday, May 14th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter. Permian Basin Royalty Trust had a net margin of 88.99% and a return on equity of 9,061.81%. The company had revenue of $3.57 million for the quarter.

Permian Basin Royalty Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.0247 per share. The ex-dividend date is Tuesday, June 30th. This is a positive change from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. This represents a c) dividend on an annualized basis and a dividend yield of 1.1%. Permian Basin Royalty Trust’s dividend payout ratio is currently 93.75%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Several institutional investors and hedge funds have recently made changes to their positions in PBT. MOR Wealth Management LLC purchased a new position in Permian Basin Royalty Trust in the 4th quarter worth approximately $892,000. Mad River Investors boosted its stake in Permian Basin Royalty Trust by 7.0% during the 4th quarter. Mad River Investors now owns 986,819 shares of the oil and gas producer’s stock valued at $16,756,000 after purchasing an additional 64,589 shares during the last quarter. Horizon Kinetics Asset Management LLC boosted its stake in Permian Basin Royalty Trust by 1.5% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 6,187,800 shares of the oil and gas producer’s stock valued at $105,069,000 after purchasing an additional 88,751 shares during the last quarter. Moors & Cabot Inc. increased its holdings in shares of Permian Basin Royalty Trust by 10.5% in the 4th quarter. Moors & Cabot Inc. now owns 585,746 shares of the oil and gas producer’s stock worth $9,946,000 after purchasing an additional 55,456 shares in the last quarter. Finally, Hosking Partners LLP increased its holdings in shares of Permian Basin Royalty Trust by 12.8% in the 4th quarter. Hosking Partners LLP now owns 346,683 shares of the oil and gas producer’s stock worth $5,887,000 after purchasing an additional 39,230 shares in the last quarter. Institutional investors own 28.86% of the company’s stock.

About Permian Basin Royalty Trust

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.