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

Permian Basin Royalty Trust (NYSE:PBT) announced its quarterly earnings results on Thursday. The oil and gas producer reported $0.08 earnings per share for the quarter, Zacks reports. Permian Basin Royalty Trust had a return on equity of 9,061.81% and a net margin of 88.99%.

Permian Basin Royalty Trust Stock Down 1.8%

Shares of PBT stock traded down $0.60 during trading on Thursday, hitting $32.81. The company had a trading volume of 68,686 shares, compared to its average volume of 131,417. The stock’s 50-day moving average is $27.98 and its two-hundred day moving average is $24.30. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 102.56 and a beta of 0.48. Permian Basin Royalty Trust has a 52 week low of $14.81 and a 52 week high of $35.42.

Permian Basin Royalty Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a dividend of $0.0436 per share. This is a boost from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. The ex-dividend date is Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 1.6%. Permian Basin Royalty Trust’s dividend payout ratio is 162.50%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Kestra Advisory Services LLC bought a new stake in shares of Permian Basin Royalty Trust during the 4th quarter worth $28,000. NewEdge Advisors LLC grew its position in Permian Basin Royalty Trust by 53.1% in the second quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer’s stock worth $47,000 after acquiring an additional 1,304 shares in the last quarter. Bank of America Corp DE increased its stake in Permian Basin Royalty Trust by 27.0% in the second quarter. Bank of America Corp DE now owns 13,037 shares of the oil and gas producer’s stock valued at $162,000 after acquiring an additional 2,769 shares during the last quarter. Royal Bank of Canada raised its position in Permian Basin Royalty Trust by 6.0% during the fourth quarter. Royal Bank of Canada now owns 9,802 shares of the oil and gas producer’s stock valued at $166,000 after purchasing an additional 558 shares in the last quarter. Finally, Creative Planning raised its position in 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 purchasing an additional 1,903 shares in the last quarter. Hedge funds and other institutional investors own 28.86% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Permian Basin Royalty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

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.