Permian Basin Royalty Trust (NYSE:PBT) Hits New 1-Year High - Here's What Happened

Key Points

• Permian Basin Royalty Trust reached a new 52-week high, trading as high as $35.50 before closing near $33.95. Its market capitalization is approximately $1.58 billion.
• Weiss Ratings reaffirmed a “Hold (C-)” rating, matching the broader analyst consensus. The trust reported quarterly EPS of $0.08 on revenue of $4.18 million.
• The trust increased its monthly dividend to $0.0436 per share, up from $0.02 previously, though its payout ratio stands at a high 148.57%. Institutional investors and hedge funds own about 28.86% of outstanding shares.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $35.50 and last traded at $33.95, with a volume of 114144 shares changing hands. The stock had previously closed at $33.86.

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 Tuesday. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Permian Basin Royalty Trust currently has a consensus rating of "Hold".

Permian Basin Royalty Trust Price Performance

The company has a market cap of $1.58 billion, a P/E ratio of 97.00 and a beta of 0.48. The stock's 50-day moving average price is $28.54 and its 200-day moving average price is $24.92.

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

Permian Basin Royalty Trust Increases Dividend

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

Hedge Funds Weigh In On Permian Basin Royalty Trust

A number of institutional investors have recently modified their holdings of PBT. Mad River Investors grew its holdings in Permian Basin Royalty Trust by 7.0% during the 4th quarter. Mad River Investors now owns 986,819 shares of the oil and gas producer's stock worth $16,756,000 after acquiring an additional 64,589 shares during the last quarter. Sei Investments Co. raised its position in Permian Basin Royalty Trust by 116.0% during the 1st 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. Horizon Kinetics Asset Management LLC raised its position in Permian Basin Royalty Trust by 1.5% during the 4th 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 last quarter. Moors & Cabot Inc. lifted its holdings in Permian Basin Royalty Trust by 10.5% during the 4th quarter. Moors & Cabot Inc. now owns 585,746 shares of the oil and gas producer's stock worth $9,946,000 after buying an additional 55,456 shares during the period. Finally, Hosking Partners LLP grew its position in shares of Permian Basin Royalty Trust by 12.8% in the 4th quarter. Hosking Partners LLP now owns 346,683 shares of the oil and gas producer's stock valued at $5,887,000 after buying an additional 39,230 shares during the last quarter. Institutional investors and hedge funds own 28.86% of the company's stock.

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.

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