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

Key Points

• Permian Basin Royalty Trust's shares reached a new 52-week high of $19.02 during trading, marking a significant increase from the previous closing price of $17.99.
• The company recently declared a boosted monthly dividend of $0.1155 per share, up from $0.02, resulting in an annualized yield of 7.4% for shareholders.
• Institutional ownership in Permian Basin Royalty Trust has increased, with significant stakes being added by firms such as Ameriprise Financial and Mad River Investors.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $19.02 and last traded at $19.28, with a volume of 69070 shares. The stock had previously closed at $17.99.

Permian Basin Royalty Trust Stock Up 4.5%

The company has a market cap of $876.03 million, a P/E ratio of 52.21 and a beta of 0.69. The company has a fifty day moving average of $15.74 and a 200 day moving average of $12.50.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The oil and gas producer reported $0.05 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 company had revenue of $3.11 million during the quarter.

Permian Basin Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.1155 per share. This is a boost from Permian Basin Royalty Trust's previous monthly dividend of $0.02. This represents a c) annualized dividend and a yield of 7.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Permian Basin Royalty Trust's dividend payout ratio is presently 55.56%.

Institutional Trading of Permian Basin Royalty Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in PBT. Jane Street Group LLC bought a new stake in Permian Basin Royalty Trust during the 4th quarter valued at approximately $475,000. Ameriprise Financial Inc. raised its stake 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 period. Welch Group LLC lifted its position in shares of Permian Basin Royalty Trust by 68.3% in the first quarter. Welch Group LLC now owns 18,200 shares of the oil and gas producer's stock worth $180,000 after buying an additional 7,384 shares in the last quarter. Avondale Wealth Management lifted its position in shares of Permian Basin Royalty Trust by 52.6% in the first quarter. Avondale Wealth Management now owns 29,000 shares of the oil and gas producer's stock worth $287,000 after buying an additional 10,000 shares in the last quarter. Finally, Mad River Investors lifted its position in shares of Permian Basin Royalty Trust by 91.5% in the first quarter. Mad River Investors now owns 471,693 shares of the oil and gas producer's stock worth $4,674,000 after buying an additional 225,400 shares in the last quarter. 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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