Permian Basin Royalty Trust (NYSE:PBT) Reaches New 1-Year 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 during trading 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 cap of $827.79 million, a price-to-earnings ratio of 49.33 and a beta of 0.69. The firm has a fifty day moving average price of $15.63 and a 200 day moving average price of $12.41.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last released its quarterly earnings data 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 business also recently disclosed a monthly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $0.1155 dividend. This represents a c) annualized dividend and a dividend yield of 7.8%. The ex-dividend date of this dividend is Tuesday, September 30th. This is a boost from Permian Basin Royalty Trust's previous monthly dividend of $0.02. Permian Basin Royalty Trust's payout ratio is currently 55.56%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Several large investors have recently made changes to their positions in PBT. Jane Street Group LLC acquired a new stake in shares of Permian Basin Royalty Trust in the 4th quarter valued at approximately $475,000. Ameriprise Financial Inc. lifted its holdings in 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 valued at $128,000 after purchasing an additional 1,623 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Permian Basin Royalty Trust during the 4th quarter valued at $623,000. Welch Group LLC lifted its holdings in Permian Basin Royalty Trust by 68.3% during the 1st quarter. Welch Group LLC now owns 18,200 shares of the oil and gas producer's stock valued at $180,000 after purchasing an additional 7,384 shares during the last quarter. Finally, Avondale Wealth Management lifted its holdings in Permian Basin Royalty Trust by 52.6% during the 1st quarter. Avondale Wealth Management now owns 29,000 shares of the oil and gas producer's stock valued at $287,000 after purchasing an additional 10,000 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, 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.