Shares of Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) shot up 4.4% during mid-day trading on Tuesday . The company traded as high as $15.60 and last traded at $15.66. 129,116 shares were traded during trading, a decline of 13% from the average session volume of 147,996 shares. The stock had previously closed at $15.00.
Permian Basin Royalty Trust Stock Performance
The company has a market capitalization of $728.70 million, a price-to-earnings ratio of 43.43 and a beta of 0.59. The stock's 50-day moving average price is $13.25 and its 200-day moving average price is $11.36.
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. The business had revenue of $3.11 million during the quarter. Permian Basin Royalty Trust had a return on equity of 9,737.65% and a net margin of 89.90%.
Permian Basin Royalty Trust Increases Dividend
The business also recently declared a dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were issued a $0.0153 dividend. This represents a dividend yield of 145.0%. This is a positive change 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 presently 50.00%.
Institutional Trading of Permian Basin Royalty Trust
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its holdings 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 worth $53,000 after buying an additional 2,250 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Permian Basin Royalty Trust by 211.0% during the fourth quarter. Wells Fargo & Company MN now owns 233,493 shares of the oil and gas producer's stock worth $2,587,000 after purchasing an additional 158,403 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Permian Basin Royalty Trust by 28.3% during the fourth quarter. Russell Investments Group Ltd. now owns 12,132 shares of the oil and gas producer's stock worth $134,000 after purchasing an additional 2,679 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Permian Basin Royalty Trust during the fourth quarter worth about $622,000. Finally, GeoWealth Management LLC increased its stake in shares of Permian Basin Royalty Trust by 22.5% in the fourth quarter. GeoWealth Management LLC now owns 49,947 shares of the oil and gas producer's stock valued at $550,000 after purchasing an additional 9,176 shares during the period. Hedge funds and other institutional investors own 28.86% of the company's stock.
About Permian Basin Royalty Trust
(
Get Free Report)
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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