Permian Basin Royalty Trust (NYSE:PBT) Issues Earnings Results

Key Points

• Permian Basin Royalty Trust reported quarterly EPS of $0.08, alongside an 88.99% net margin and 9,061.81% return on equity.
• Shares fell 1.4% to $32.94 during Thursday trading, while the trust’s market capitalization reached approximately $1.54 billion.
• The trust increased its monthly dividend to $0.0436 per share, up from $0.02, representing a 1.6% annualized yield; analysts maintain a consensus Hold rating.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) posted its quarterly earnings results on Thursday. The oil and gas producer reported $0.08 EPS for the quarter, Zacks reports. Permian Basin Royalty Trust had a return on equity of 9,061.81% and a net margin of 88.99%.

Permian Basin Royalty Trust Stock Down 1.4%

NYSE:PBT traded down $0.47 during trading hours on Thursday, hitting $32.94. 62,398 shares of the company traded hands, compared to its average volume of 131,414. Permian Basin Royalty Trust has a one year low of $14.81 and a one year high of $35.42. The firm's 50-day simple moving average is $27.98 and its 200-day simple moving average is $24.30. The company has a market cap of $1.54 billion, a PE ratio of 103.01 and a beta of 0.48.

Permian Basin Royalty Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be paid a $0.0436 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 1.6%. This is an increase from Permian Basin Royalty Trust's previous monthly dividend of $0.02. Permian Basin Royalty Trust's payout ratio is currently 162.50%.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Permian Basin Royalty Trust from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, May 21st. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold".

Hedge Funds Weigh In On Permian Basin Royalty Trust

Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its holdings in Permian Basin Royalty Trust by 6.0% in the fourth quarter. Royal Bank of Canada now owns 9,802 shares of the oil and gas producer's stock valued at $166,000 after acquiring an additional 558 shares in the last quarter. NewEdge Advisors LLC raised its holdings in Permian Basin Royalty Trust by 53.1% in 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 in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Permian Basin Royalty Trust in the 4th quarter worth about $28,000. Creative Planning boosted its stake in shares of Permian Basin Royalty Trust by 11.9% during the 3rd quarter. Creative Planning now owns 16,778 shares of the oil and gas producer's stock valued at $306,000 after purchasing an additional 1,783 shares in the last quarter. Finally, Family Management Corp boosted its stake in shares of Permian Basin Royalty Trust by 16.8% during the 3rd quarter. Family Management Corp now owns 14,747 shares of the oil and gas producer's stock valued at $269,000 after purchasing an additional 2,124 shares in the last quarter. Institutional investors own 28.86% of the company's stock.

About Permian Basin Royalty Trust

Permian Basin Royalty Trust NYSE: PBT is a passive investment vehicle that holds overriding royalty interests in oil and gas properties located in the Permian Basin region of West Texas. Established in 1980 by Apache Oil Company, the Trust does not engage in exploration or production activities. Instead, it owns net profit interests on specified acreage, allowing unitholders to participate directly in the cash flows generated by hydrocarbon extraction without bearing the costs or risks associated with day-to-day field operations.

The Trust’s interests cover acreage predominantly in Reeves and Loving Counties, where mature wells have been developed over several decades.

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