Permian Basin Royalty Trust (NYSE:PBT) Shares Gap Up – Should You Buy?

Permian Basin Royalty Trust (NYSE:PBT) gapped up before the market opened on Tuesday . The stock had previously closed at $32.92, but opened at $33.98. Permian Basin Royalty Trust shares last traded at $32.9890, with a volume of 4,572 shares traded.

Analyst Upgrades and Downgrades

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

Permian Basin Royalty Trust Price Performance

The stock has a 50-day moving average price of $28.44 and a 200 day moving average price of $24.81. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 97.09 and a beta of 0.48.

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

Permian Basin Royalty Trust Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a $0.0436 dividend. This is an increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. This represents a c) dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Friday, July 31st. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is presently 148.57%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

A number of hedge funds have recently modified their holdings of the business. SoftVest Advisors LLC grew its stake in shares of Permian Basin Royalty Trust by 40.1% in the 2nd quarter. SoftVest Advisors LLC now owns 6,206,624 shares of the oil and gas producer’s stock valued at $77,335,000 after purchasing an additional 1,776,929 shares during the last quarter. Sei Investments Co. raised its stake in shares of Permian Basin Royalty Trust by 116.0% during the first quarter. Sei Investments Co. now owns 422,000 shares of the oil and gas producer’s stock worth $9,081,000 after purchasing an additional 226,600 shares during the last quarter. JPMorgan Chase & Co. raised its stake 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 worth $1,300,000 after purchasing an additional 99,829 shares during the last quarter. UBS Group AG lifted its holdings in shares of Permian Basin Royalty Trust by 170.1% during the third quarter. UBS Group AG now owns 147,578 shares of the oil and gas producer’s stock worth $2,693,000 after purchasing an additional 92,936 shares during the period. Finally, Horizon Kinetics Asset Management LLC lifted its holdings in shares of Permian Basin Royalty Trust by 1.5% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 6,187,800 shares of the oil and gas producer’s stock worth $105,069,000 after purchasing an additional 88,751 shares during the period. 28.86% of the stock is currently owned by hedge funds and other institutional investors.

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.