Permian Basin Royalty Trust (NYSE:PBT) Sees Strong Trading Volume - Still a Buy?

Key Points

• Trading activity increased sharply: Permian Basin Royalty Trust shares traded 178,361 shares, up 39% from the prior session, and rose to $35.21 from a $34.86 close.
• Analyst sentiment remains neutral: Weiss Ratings reaffirmed a “hold (C-)” rating, and the stock’s sole analyst rating remains Hold.
• Recent financial results and dividend: The trust reported quarterly EPS of $0.08 on $4.18 million in revenue and paid a monthly dividend of $0.0187, representing a 0.6% annualized yield and a 62.86% payout ratio.

Shares of Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) saw unusually-high trading volume on Friday . 178,361 shares changed hands during mid-day trading, an increase of 39% from the previous session's volume of 127,900 shares.The stock last traded at $35.21 and had previously closed at $34.86.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued 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.com, the stock has an average rating of "Hold".

Permian Basin Royalty Trust Stock Performance

The firm has a market capitalization of $1.65 billion, a P/E ratio of 101.17 and a beta of 0.50. The firm has a 50-day moving average of $32.15 and a 200-day moving average of $27.12.

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

Permian Basin Royalty Trust Cuts Dividend

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

Hedge Funds Weigh In On Permian Basin Royalty Trust

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

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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