Permian Basin Royalty Trust (NYSE:PBT) Announces Quarterly Earnings Results

Permian Basin Royalty Trust (NYSE:PBT) announced its quarterly earnings data on Monday. The oil and gas producer reported $0.08 EPS for the quarter, Zacks reports. The business had revenue of $4.98 million during the quarter. Permian Basin Royalty Trust had a return on equity of 8,115.81% and a net margin of 85.87%.

Permian Basin Royalty Trust Trading Up 0.4%

Shares of NYSE PBT traded up $0.12 during mid-day trading on Wednesday, hitting $30.75. The company had a trading volume of 55,391 shares, compared to its average volume of 133,864. The company has a market capitalization of $1.43 billion, a PE ratio of 109.84 and a beta of 0.39. Permian Basin Royalty Trust has a one year low of $16.25 and a one year high of $37.00. The firm has a 50-day simple moving average of $33.21 and a two-hundred day simple moving average of $27.14.

Permian Basin Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 16th. Stockholders of record on Friday, October 30th will be issued a $0.0452 dividend. This represents a $0.54 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, October 30th. This is a positive change from Permian Basin Royalty Trust’s previous monthly dividend of $0.0196. Permian Basin Royalty Trust’s dividend payout ratio is 154.29%.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Permian Basin Royalty Trust from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday. One research analyst has rated the stock with a Hold rating. Based on data from MarketBeat, Permian Basin Royalty Trust presently has a consensus rating of “Hold”.

About Permian Basin Royalty Trust

Permian Basin Royalty Trust is a Texas-based express trust that owns royalty and net profits interests in oil and natural gas properties. It does not operate wells; instead, it receives proceeds from production after applicable costs and distributes available amounts to its unitholders. The trust’s interests include properties in the Permian Basin of West Texas, including the Waddell Ranch properties and other Texas royalty interests. Production and operating activities are carried out by the operators of those properties.