Permian Basin Royalty Trust (NYSE:PBT) Sets New 52-Week High - Time to Buy?

Key Points

• Permian Basin Royalty Trust shares reached a new 52-week high, trading around $32.62 and gaining 7.4%; the trust has a $1.52 billion market capitalization and trades at a high P/E ratio of 101.78.
• Weiss Ratings upgraded the stock from “sell” to “hold,” while the broader analyst consensus remains Hold. The trust reported $0.06 in quarterly EPS on $3.57 million in revenue.
• The trust raised its monthly dividend to $0.0436 per share, compared with $0.02 previously, producing a 1.6% yield; however, its dividend payout ratio is elevated at 162.5%. Institutional investors own 28.86% of the shares.

Shares of Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $32.33 and last traded at $32.62, with a volume of 172049 shares. The stock had previously closed at $30.33.

Wall Street Analyst Weigh In

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

Permian Basin Royalty Trust Trading Up 7.4%

The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 101.78 and a beta of 0.48. The company has a fifty day moving average price of $27.46 and a 200-day moving average price of $23.61.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last released its quarterly earnings data on Thursday, May 14th. The oil and gas producer reported $0.06 EPS for the quarter. The firm had revenue of $3.57 million for the quarter. Permian Basin Royalty Trust had a return on equity of 9,061.81% and a net margin of 88.99%.

Permian Basin Royalty Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be paid a dividend of $0.0436 per share. This is a positive change from Permian Basin Royalty Trust's previous monthly dividend of $0.02. The ex-dividend date is Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 1.6%. Permian Basin Royalty Trust's dividend payout ratio (DPR) is currently 162.50%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Institutional investors and hedge funds have recently modified their holdings of the business. SoftVest Advisors LLC increased its stake in shares of Permian Basin Royalty Trust by 40.1% in the second quarter. SoftVest Advisors LLC now owns 6,206,624 shares of the oil and gas producer's stock worth $77,335,000 after purchasing an additional 1,776,929 shares during the period. Sei Investments Co. grew its holdings in Permian Basin Royalty Trust by 116.0% in the 1st quarter. Sei Investments Co. now owns 422,000 shares of the oil and gas producer's stock valued at $9,081,000 after buying an additional 226,600 shares during the last quarter. JPMorgan Chase & Co. increased its position in Permian Basin Royalty Trust by 2,233.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 104,298 shares of the oil and gas producer's stock worth $1,300,000 after buying an additional 99,829 shares during the period. UBS Group AG grew its stake in shares of Permian Basin Royalty Trust by 170.1% in the third quarter. UBS Group AG now owns 147,578 shares of the oil and gas producer's stock worth $2,693,000 after acquiring an additional 92,936 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC increased its position in Permian Basin Royalty Trust by 1.5% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 6,187,800 shares of the oil and gas producer's stock worth $105,069,000 after acquiring an additional 88,751 shares during the period. Institutional investors and hedge funds own 28.86% of the company's stock.

Permian Basin Royalty Trust Company Profile

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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