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

Key Points

• Permian Basin Royalty Trust shares reached a new 52-week high of $37.00, last trading around $36.07, with a market capitalization of approximately $1.68 billion.
• The trust reported quarterly revenue of $4.18 million and earnings of $0.08 per share, while maintaining a strong net margin of 91.96%. Its stock carries a consensus “Hold” rating.
• The company declared a monthly dividend of $0.0187 per share, representing an approximately 0.6% yield; institutional investors own 28.86% of its outstanding shares.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $37.00 and last traded at $36.0710, with a volume of 167506 shares trading hands. The stock had previously closed at $35.58.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "hold (c-)" rating on shares of Permian Basin Royalty Trust in a research report on Tuesday, August 18th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of "Hold".

Permian Basin Royalty Trust Stock Performance

The company has a market cap of $1.68 billion, a P/E ratio of 103.06 and a beta of 0.50. The business has a 50 day moving average price of $31.81 and a two-hundred day moving average price of $26.91.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The oil and gas producer reported $0.08 EPS for the quarter. Permian Basin Royalty Trust had a net margin of 91.96% and a return on equity of 9,990.08%. The company had revenue of $4.18 million during the quarter.

Permian Basin Royalty Trust Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were paid a $0.0187 dividend. This represents a c) annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Monday, August 31st. Permian Basin Royalty Trust's dividend payout ratio is presently 62.86%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

Institutional investors and hedge funds have recently made changes to their positions in the business. Tidal Investments LLC bought a new position in Permian Basin Royalty Trust during the second quarter valued at approximately $211,000. Integrated Wealth Concepts LLC bought a new stake in Permian Basin Royalty Trust in the 2nd quarter worth approximately $114,000. NewEdge Advisors LLC raised its holdings in shares of Permian Basin Royalty Trust by 25.1% during the 2nd quarter. NewEdge Advisors LLC now owns 3,493 shares of the oil and gas producer's stock worth $87,000 after acquiring an additional 701 shares in the last quarter. Corient Private Wealth LP raised its holdings in shares of Permian Basin Royalty Trust by 10.4% during the 2nd quarter. Corient Private Wealth LP now owns 20,865 shares of the oil and gas producer's stock worth $522,000 after acquiring an additional 1,974 shares in the last quarter. Finally, Post Resch Tallon Group Inc. bought a new position in shares of Permian Basin Royalty Trust during the 2nd quarter valued at approximately $210,000. Institutional investors own 28.86% of the company's stock.

About Permian Basin Royalty Trust

Permian Basin Royalty Trust is a grantor trust that holds interests in oil and natural gas properties located in the Permian Basin of West Texas. The trust does not operate wells or directly market hydrocarbons; instead, it receives royalty and overriding royalty income from production associated with its underlying properties.

The trust's interests primarily include properties in the Waddell Ranch area of Crane County, Texas, along with other royalty properties in the state. Revenue is derived from the sale of crude oil, natural gas and natural gas liquids produced by the operators of these properties.

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