Permian Basin Royalty Trust (NYSE:PBT) Reaches New 52-Week High – Still a Buy?

Permian Basin Royalty Trust (NYSE:PBT) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $19.60 and last traded at $19.2050, with a volume of 42628 shares. The stock had previously closed at $19.39.

Wall Street Analysts Forecast Growth

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

Permian Basin Royalty Trust Trading Up 1.4%

The stock has a 50 day moving average price of $17.93 and a 200-day moving average price of $14.47. The stock has a market capitalization of $916.52 million, a PE ratio of 54.57 and a beta of 0.59.

Permian Basin Royalty Trust (NYSE:PBT) last announced its earnings results on Wednesday, August 13th. The oil and gas producer reported $0.05 earnings per share (EPS) for the quarter. Permian Basin Royalty Trust had a net margin of 89.90% and a return on equity of 9,737.65%. The company had revenue of $3.11 million during the quarter.

Permian Basin Royalty Trust Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, November 17th. Investors of record on Friday, October 31st will be given a $0.02 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, October 31st. Permian Basin Royalty Trust’s payout ratio is currently 66.67%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. SoftVest Advisors LLC raised its stake in Permian Basin Royalty Trust by 40.1% in the second quarter. SoftVest Advisors LLC now owns 6,206,624 shares of the oil and gas producer’s stock worth $77,335,000 after buying an additional 1,776,929 shares in the last quarter. Horizon Kinetics Asset Management LLC boosted its stake in Permian Basin Royalty Trust by 41.3% during the second quarter. Horizon Kinetics Asset Management LLC now owns 5,839,825 shares of the oil and gas producer’s stock worth $72,764,000 after buying an additional 1,705,498 shares during the period. Mad River Investors increased its position in shares of Permian Basin Royalty Trust by 3.4% during the third quarter. Mad River Investors now owns 922,230 shares of the oil and gas producer’s stock worth $16,831,000 after acquiring an additional 30,313 shares during the period. Moors & Cabot Inc. boosted its position in shares of Permian Basin Royalty Trust by 4.5% during the 2nd quarter. Moors & Cabot Inc. now owns 530,208 shares of the oil and gas producer’s stock worth $6,606,000 after acquiring an additional 22,915 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its position in Permian Basin Royalty Trust by 9.4% during the third quarter. Commonwealth Equity Services LLC now owns 290,577 shares of the oil and gas producer’s stock worth $5,303,000 after buying an additional 24,853 shares during the period. Hedge funds and other institutional investors own 28.86% of the company’s stock.

About Permian Basin Royalty Trust

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.