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

Key Points

• The Permian Basin Royalty Trust (NYSE:PBT) recently reached a new 52-week high at $18.80, indicating strong market performance.
• The Trust has announced a monthly dividend of $0.0164, which represents a yield of 1.1%, following a prior dividend of $0.02.
• Institutional investors are showing significant interest, with several hedge funds increasing their stakes in PBT, now holding 28.86% of the company's stock.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $18.80 and last traded at $18.52, with a volume of 94251 shares changing hands. The stock had previously closed at $17.69.

Permian Basin Royalty Trust Stock Performance

The company has a market capitalization of $850.15 million, a price-to-earnings ratio of 50.67 and a beta of 0.69. The firm has a 50-day simple moving average of $15.12 and a two-hundred day simple moving average of $12.16.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 13th. The oil and gas producer reported $0.05 earnings per share (EPS) for the quarter. The business 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 disclosed a monthly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $0.0164 dividend. This represents a c) annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, August 29th. This is a boost from Permian Basin Royalty Trust's previous monthly dividend of $0.02. Permian Basin Royalty Trust's dividend payout ratio (DPR) is 52.78%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

Several hedge funds and other institutional investors have recently made changes to their positions in PBT. Lazard Asset Management LLC purchased a new stake in Permian Basin Royalty Trust during the fourth quarter worth approximately $623,000. Jane Street Group LLC purchased a new stake in Permian Basin Royalty Trust during the fourth quarter worth approximately $475,000. Schwartz Investment Counsel Inc. lifted its stake in Permian Basin Royalty Trust by 7.2% during the first quarter. Schwartz Investment Counsel Inc. now owns 1,486,902 shares of the oil and gas producer's stock worth $14,676,000 after purchasing an additional 100,000 shares during the last quarter. Mad River Investors lifted its stake in Permian Basin Royalty Trust by 91.5% during the first quarter. Mad River Investors now owns 471,693 shares of the oil and gas producer's stock worth $4,674,000 after purchasing an additional 225,400 shares during the last quarter. Finally, Promethium Advisors LLC lifted its stake in Permian Basin Royalty Trust by 46.4% during 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 during the last quarter. Hedge funds and other institutional investors own 28.86% of the company's stock.

About Permian Basin Royalty Trust

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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