Permian Basin Royalty Trust (NYSE:PBT) Hits New 1-Year High - Time to Buy?

Key Points

• The Permian Basin Royalty Trust's stock hit a new 52-week high of $14.32, signaling potential investor interest.
• The company recently increased its dividend to $0.0153 per share, representing a high dividend yield of 145.0%.
• Institutional investors have been actively acquiring shares, with Bessemer Group Inc. increasing its stake by an impressive 4,701.1% during the second quarter.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $14.32 and last traded at $14.25, with a volume of 63029 shares trading hands. The stock had previously closed at $13.93.

Permian Basin Royalty Trust Stock Performance

The business has a fifty day simple moving average of $12.34 and a 200 day simple moving average of $11.05. The stock has a market cap of $682.59 million, a price-to-earnings ratio of 29.89 and a beta of 0.59.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last issued its earnings results on Wednesday, May 14th. The oil and gas producer reported $0.06 earnings per share for the quarter. The business had revenue of $3.07 million for the quarter. Permian Basin Royalty Trust had a return on equity of 12,661.40% and a net margin of 93.60%.

Permian Basin Royalty Trust Increases Dividend

The firm also recently announced a dividend, which will be paid on Thursday, August 14th. Stockholders of record on Friday, August 1st will be given a dividend of $0.0153 per share. The ex-dividend date of this dividend is Thursday, July 31st. This is a positive change from Permian Basin Royalty Trust's previous dividend of $0.01. This represents a dividend yield of 145.0%. Permian Basin Royalty Trust's dividend payout ratio is presently 36.73%.

Institutional Trading of Permian Basin Royalty Trust

Hedge funds and other institutional investors have recently modified their holdings of the business. Clark Asset Management LLC acquired a new position in Permian Basin Royalty Trust in the second quarter worth about $124,000. Bessemer Group Inc. grew its stake in Permian Basin Royalty Trust by 4,701.1% in the second quarter. Bessemer Group Inc. now owns 96,021 shares of the oil and gas producer's stock worth $1,196,000 after purchasing an additional 94,021 shares in the last quarter. Stratos Wealth Partners LTD. grew its stake in Permian Basin Royalty Trust by 90.3% in the second quarter. Stratos Wealth Partners LTD. now owns 20,270 shares of the oil and gas producer's stock worth $253,000 after purchasing an additional 9,620 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new position in Permian Basin Royalty Trust in the second quarter worth about $147,000. Finally, Promethium Advisors LLC grew its stake in Permian Basin Royalty Trust by 46.4% in the first quarter. Promethium Advisors LLC now owns 131,829 shares of the oil and gas producer's stock worth $1,306,000 after purchasing an additional 41,797 shares in the last quarter. 28.86% of the stock is owned by hedge funds and other institutional investors.

Permian Basin Royalty Trust Company Profile

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.

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