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

Key Points

• Permian Basin Royalty Trust reported an earnings per share (EPS) of $0.05 for the quarter, with a net margin of 93.60% and a return on equity of 12,661.40%.
• The company recently declared a significantly increased dividend of $0.0153 per share, reflecting a 145.0% dividend yield, up from the previous $0.01.
• JPMorgan Chase & Co. made a notable increase in its stake by 2,233.8%, now owning over 104,298 shares of Permian Basin Royalty Trust.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) released its quarterly earnings results on Wednesday. The oil and gas producer reported $0.05 earnings per share (EPS) for the quarter, Zacks reports. Permian Basin Royalty Trust had a net margin of 89.90% and a return on equity of 9,737.65%. The business had revenue of $3.11 million for the quarter.

Permian Basin Royalty Trust Stock Performance

Shares of PBT stock traded up $0.6340 on Tuesday, reaching $15.6340. 223,015 shares of the company's stock traded hands, compared to its average volume of 164,930. Permian Basin Royalty Trust has a 12-month low of $8.01 and a 12-month high of $16.65. The company has a market capitalization of $728.70 million, a P/E ratio of 43.43 and a beta of 0.59. The business's 50 day moving average price is $13.33 and its two-hundred day moving average price is $11.39.

Permian Basin Royalty Trust Increases Dividend

The firm also recently announced a dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were given a $0.0153 dividend. This represents a dividend yield of 145.0%. This is a boost from Permian Basin Royalty Trust's previous dividend of $0.01. The ex-dividend date of this dividend was Thursday, July 31st. Permian Basin Royalty Trust's payout ratio is 50.00%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

Several institutional investors and hedge funds have recently bought and sold shares of PBT. NewEdge Advisors LLC lifted its position in shares of Permian Basin Royalty Trust by 53.1% in the second 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. Bank of America Corp DE increased its stake in Permian Basin Royalty Trust by 27.0% in the 2nd quarter. Bank of America Corp DE now owns 13,037 shares of the oil and gas producer's stock valued at $162,000 after buying an additional 2,769 shares during the period. Creative Planning lifted its position in 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 worth $187,000 after buying an additional 1,903 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Permian Basin Royalty Trust during the 2nd quarter valued at $188,000. Finally, Ameriprise Financial Inc. boosted its stake in shares of Permian Basin Royalty Trust by 23.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 17,185 shares of the oil and gas producer's stock valued at $214,000 after buying an additional 3,213 shares during the period. Hedge funds and other institutional investors 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.