Permian Basin Royalty Trust (NYSE:PBT) Hits New 1-Year 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) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $16.95 and last traded at $16.70, with a volume of 63137 shares. The stock had previously closed at $16.45.

Permian Basin Royalty Trust Stock Performance

The company has a market cap of $780.51 million, a P/E ratio of 46.52 and a beta of 0.59. The firm has a 50 day moving average price of $14.06 and a 200-day moving average price of $11.68.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The oil and gas producer reported $0.05 earnings per share (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 business also recently declared a monthly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.0164 per share. This is a boost from Permian Basin Royalty Trust's previous monthly dividend of $0.02. The ex-dividend date is Friday, August 29th. This represents a c) annualized dividend and a dividend yield of 1.2%. Permian Basin Royalty Trust's dividend payout ratio is currently 52.78%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

Several large investors have recently made changes to their positions in the business. Virtus Investment Advisers LLC lifted its position in shares of Permian Basin Royalty Trust by 7.1% during the 2nd quarter. Virtus Investment Advisers LLC now owns 14,369 shares of the oil and gas producer's stock worth $179,000 after purchasing an additional 949 shares during the last quarter. Atlas Wealth Partners LLC lifted its position in shares of Permian Basin Royalty Trust by 1.9% during the 1st quarter. Atlas Wealth Partners LLC now owns 67,363 shares of the oil and gas producer's stock worth $666,000 after purchasing an additional 1,265 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Permian Basin Royalty Trust by 53.1% during the 2nd quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer's stock worth $47,000 after purchasing an additional 1,304 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Permian Basin Royalty Trust by 16.1% during the 4th quarter. Ameriprise Financial Inc. now owns 11,688 shares of the oil and gas producer's stock worth $128,000 after purchasing an additional 1,623 shares during the last quarter. Finally, Creative Planning lifted its position in shares of Permian Basin Royalty Trust by 14.5% during the 2nd quarter. Creative Planning now owns 14,995 shares of the oil and gas producer's stock worth $187,000 after purchasing an additional 1,903 shares during the last quarter. Institutional investors and hedge funds own 28.86% of the company's stock.

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.