Permian Basin Royalty Trust (NYSE:PBT) Stock Falls 5.8% – Here’s Why

Permian Basin Royalty Trust (NYSE:PBT) shares traded down 5.8% on Tuesday. The stock traded as low as $29.70 and last traded at $29.79. Approximately 11,963 shares were traded during mid-day trading, a decline of 91% from the average session volume of 133,203 shares. The stock had previously closed at $31.62.

Analyst Upgrades and Downgrades

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

Permian Basin Royalty Trust Trading Down 3.8%

The firm’s fifty day moving average price is $33.79 and its 200-day moving average price is $26.83. The company has a market cap of $1.36 billion, a P/E ratio of 83.74 and a beta of 0.39.

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

Permian Basin Royalty Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, November 16th. Shareholders of record on Friday, October 30th will be issued a $0.0452 dividend. This is a positive change from Permian Basin Royalty Trust’s previous monthly dividend of $0.0196. The ex-dividend date of this dividend is Friday, October 30th. This represents a $0.54 annualized dividend and a yield of 1.9%. Permian Basin Royalty Trust’s payout ratio is currently 154.29%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

A number of institutional investors have recently bought and sold shares of the business. Mad River Investors raised its stake in Permian Basin Royalty Trust by 5.1% during the third quarter. Mad River Investors now owns 1,056,366 shares of the oil and gas producer’s stock worth $33,254,000 after acquiring an additional 51,214 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Permian Basin Royalty Trust by 28.3% during the third quarter. Commonwealth Equity Services LLC now owns 544,214 shares of the oil and gas producer’s stock valued at $17,132,000 after acquiring an additional 119,985 shares during the period. Sei Investments Co. boosted its stake in shares of Permian Basin Royalty Trust by 116.0% in the 1st quarter. Sei Investments Co. now owns 422,000 shares of the oil and gas producer’s stock valued at $9,081,000 after purchasing an additional 226,600 shares in the last quarter. State of Wyoming boosted its stake in shares of Permian Basin Royalty Trust by 537.0% in the 3rd quarter. State of Wyoming now owns 24,530 shares of the oil and gas producer’s stock valued at $772,000 after purchasing an additional 20,679 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. acquired a new stake in shares of Permian Basin Royalty Trust in the 3rd quarter valued at $570,000. Institutional investors and hedge funds own 28.86% of the company’s stock.

Permian Basin Royalty Trust Company Profile

Permian Basin Royalty Trust (NYSE: PBT) is a grantor trust that holds interests in oil and natural gas properties located in the Permian Basin of West Texas. The trust does not explore for, develop, or operate properties itself. Instead, it receives proceeds generated from the production and sale of hydrocarbons from properties in which it owns royalty or net profits interests.

The trust’s principal interests include properties associated with the Waddell Ranch in Texas, as well as additional Texas royalty properties.