Permian Basin Royalty Trust (NYSE:PBT) Reaches New 1-Year High - Here's Why

Key Points

• Permian Basin Royalty Trust's share price reached a 52-week high of $18.34 during trading, closing at $18.14, with a trading volume of 26,360 shares.
• The company announced a monthly dividend of $0.0164, an increase from the previous dividend, with a dividend yield of 1.1% and a payout ratio of 55.56%.
• Institutional investors have significantly increased their stakes in Permian Basin Royalty Trust, with 28.86% of shares now owned by hedge funds and institutional firms.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The stock traded as high as $18.34 and last traded at $18.14, with a volume of 26360 shares. The stock had previously closed at $17.98.

Permian Basin Royalty Trust Trading Down 1.8%

The company has a 50 day simple moving average of $15.12 and a 200-day simple moving average of $12.14. The stock has a market cap of $824.53 million, a price-to-earnings ratio of 49.14 and a beta of 0.69.

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. Permian Basin Royalty Trust had a return on equity of 9,737.65% and a net margin of 89.90%.The firm had revenue of $3.11 million for the quarter.

Permian Basin Royalty Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a $0.0164 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a c) annualized dividend and a dividend yield of 1.1%. This is a positive change from Permian Basin Royalty Trust's previous monthly dividend of $0.02. Permian Basin Royalty Trust's dividend payout ratio (DPR) is 55.56%.

Institutional Trading of Permian Basin Royalty Trust

Several hedge funds and other institutional investors have recently modified their holdings of PBT. Virtus Investment Advisers LLC grew its holdings in shares of Permian Basin Royalty Trust by 7.1% in the 2nd quarter. Virtus Investment Advisers LLC now owns 14,369 shares of the oil and gas producer's stock valued at $179,000 after acquiring an additional 949 shares in the last quarter. Atlas Wealth Partners LLC grew its holdings in shares of Permian Basin Royalty Trust by 1.9% in the 1st quarter. Atlas Wealth Partners LLC now owns 67,363 shares of the oil and gas producer's stock valued at $666,000 after acquiring an additional 1,265 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of 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 valued at $47,000 after acquiring an additional 1,304 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Permian Basin Royalty Trust by 16.1% in the 4th quarter. Ameriprise Financial Inc. now owns 11,688 shares of the oil and gas producer's stock valued at $128,000 after acquiring an additional 1,623 shares in the last quarter. Finally, Creative Planning grew its holdings in shares of Permian Basin Royalty Trust by 14.5% in the 2nd quarter. Creative Planning now owns 14,995 shares of the oil and gas producer's stock valued at $187,000 after acquiring an additional 1,903 shares in 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.