Permian Basin Royalty Trust (NYSE:PBT) Sets New 12-Month High - Here's What Happened

Key Points

• Permian Basin Royalty Trust's shares reached a new 52-week high of $16.65 during trading, although they closed slightly lower at $16.00.
• The company recently announced a dividend increase to $0.0153 per share, reflecting a high dividend yield of 145.0%, up from the previous dividend of $0.01.
• Institutional investors are actively increasing their stakes, with notable increases in holdings by firms such as JPMorgan Chase and Golden State Wealth Management.

Shares of Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $16.65 and last traded at $16.00, with a volume of 40901 shares changing hands. The stock had previously closed at $16.27.

Permian Basin Royalty Trust Stock Down 3.0%

The company has a market cap of $735.97 million, a price-to-earnings ratio of 32.21 and a beta of 0.59. The stock has a 50 day simple moving average of $12.68 and a 200 day simple moving average of $11.16.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter. The company had revenue of $3.07 million for the quarter. Permian Basin Royalty Trust had a return on equity of 12,661.40% and a net margin of 93.60%.

Permian Basin Royalty Trust Increases Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, August 14th. Stockholders of record on Friday, August 1st will be paid a dividend of $0.0153 per share. The ex-dividend date is Thursday, July 31st. This represents a dividend yield of 145.0%. This is a boost from Permian Basin Royalty Trust's previous dividend of $0.01. Permian Basin Royalty Trust's dividend payout ratio (DPR) is presently 36.73%.

Institutional Trading of Permian Basin Royalty Trust

Several large investors have recently made changes to their positions in PBT. JPMorgan Chase & Co. boosted its stake in shares of Permian Basin Royalty Trust by 88.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,782 shares of the oil and gas producer's stock valued at $53,000 after purchasing an additional 2,250 shares in the last quarter. Golden State Wealth Management LLC raised its position in Permian Basin Royalty Trust by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 4,892 shares of the oil and gas producer's stock worth $48,000 after buying an additional 2,446 shares during the last quarter. Access Investment Management LLC acquired a new stake in Permian Basin Royalty Trust in the 2nd quarter valued at $64,000. Sunbelt Securities Inc. boosted its position in shares of Permian Basin Royalty Trust by 7,352.9% during the 1st quarter. Sunbelt Securities Inc. now owns 6,335 shares of the oil and gas producer's stock valued at $63,000 after acquiring an additional 6,250 shares during the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new stake in Permian Basin Royalty Trust during the second quarter worth about $81,000. 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.

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