Permian Basin Royalty Trust (NYSE:PBT) Hits New 12-Month High - Should You Buy?

Key Points

• Permian Basin Royalty Trust (NYSE:PBT) has reached a new 12-month high of $16.95, reflecting strong trading activity with a volume of over 63,000 shares.
• The company recently increased its dividend to $0.0153 per share, offering an impressive dividend yield of 145.0% and maintaining a payout ratio of 50.00%.
• Institutional investments have surged, with firms like SoftVest Advisors and Horizon Kinetics increasing their positions by over 40%, indicating strong confidence in the stock's performance.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $16.95 and last traded at $16.70, with a volume of 63137 shares traded. The stock had previously closed at $16.45.

Permian Basin Royalty Trust Price Performance

The firm has a market capitalization of $775.59 million, a PE ratio of 46.07 and a beta of 0.59. The stock has a 50-day moving average price of $13.60 and a 200-day moving average price of $11.49.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last issued its earnings results on Wednesday, August 13th. The oil and gas producer reported $0.05 EPS for the quarter. The company had revenue of $3.11 million during the quarter. Permian Basin Royalty Trust had a return on equity of 9,737.65% and a net margin of 89.90%.

Permian Basin Royalty Trust Increases Dividend

The firm also recently disclosed a dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were given a dividend of $0.0153 per share. This is a boost from Permian Basin Royalty Trust's previous dividend of $0.01. This represents a dividend yield of 145.0%. The ex-dividend date was Thursday, July 31st. Permian Basin Royalty Trust's payout ratio is presently 50.00%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

Hedge funds and other institutional investors have recently made changes to their positions in the business. SoftVest Advisors LLC lifted its position in Permian Basin Royalty Trust by 40.1% in the second quarter. SoftVest Advisors LLC now owns 6,206,624 shares of the oil and gas producer's stock worth $77,335,000 after purchasing an additional 1,776,929 shares during the period. Horizon Kinetics Asset Management LLC lifted its position in Permian Basin Royalty Trust by 41.3% in the second quarter. Horizon Kinetics Asset Management LLC now owns 5,839,825 shares of the oil and gas producer's stock worth $72,764,000 after purchasing an additional 1,705,498 shares during the period. Mad River Investors lifted its position in shares of Permian Basin Royalty Trust by 91.5% during the 1st quarter. Mad River Investors now owns 471,693 shares of the oil and gas producer's stock valued at $4,674,000 after acquiring an additional 225,400 shares during the last quarter. Advisory Services Network LLC lifted its position in shares of Permian Basin Royalty Trust by 327.9% during the 2nd quarter. Advisory Services Network LLC now owns 246,391 shares of the oil and gas producer's stock valued at $3,299,000 after acquiring an additional 188,807 shares during the last quarter. Finally, Schwartz Investment Counsel Inc. lifted its position in shares of Permian Basin Royalty Trust by 7.2% during the 1st quarter. Schwartz Investment Counsel Inc. now owns 1,486,902 shares of the oil and gas producer's stock valued at $14,676,000 after acquiring an additional 100,000 shares during the last quarter. 28.86% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.