Permian Basin Royalty Trust (NYSE:PBT) Sets New 1-Year High - Time to Buy?

Key Points

• Permian Basin Royalty Trust shares reached a new 52-week high of $35.52 and last traded at $35.33, giving the trust a market capitalization of approximately $1.64 billion.
• Analysts maintain a “Hold” consensus rating, while the trust reported $0.08 in quarterly EPS on $4.18 million in revenue. Its valuation includes a high price-to-earnings ratio of 100.73.
• The trust announced a monthly dividend of $0.0187 per share, representing an annualized yield of about 0.6%, while institutional investors own 28.86% of outstanding shares.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report)'s share price hit a new 52-week high on Thursday . The company traded as high as $35.52 and last traded at $35.33, with a volume of 11963 shares changing hands. The stock had previously closed at $35.27.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated 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, Permian Basin Royalty Trust has a consensus rating of "Hold".

Permian Basin Royalty Trust Stock Down 0.1%

The business's fifty day moving average is $30.98 and its two-hundred day moving average is $26.46. The stock has a market capitalization of $1.64 billion, a PE ratio of 100.73 and a beta of 0.50.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The oil and gas producer reported $0.08 earnings per share (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 for the quarter.

Permian Basin Royalty Trust Cuts Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. SoftVest Advisors LLC increased its stake in Permian Basin Royalty Trust by 40.1% during 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 acquiring an additional 1,776,929 shares during the last quarter. Horizon Kinetics Asset Management LLC boosted its holdings in shares of Permian Basin Royalty Trust by 1.5% in the 4th 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 purchasing an additional 88,751 shares during the period. Mad River Investors increased its position in shares of Permian Basin Royalty Trust by 1.7% during the 1st quarter. Mad River Investors now owns 1,003,140 shares of the oil and gas producer's stock valued at $21,588,000 after purchasing an additional 16,321 shares during the last quarter. Moors & Cabot Inc. increased its position in shares of Permian Basin Royalty Trust by 10.5% during the 4th quarter. Moors & Cabot Inc. now owns 585,746 shares of the oil and gas producer's stock valued at $9,946,000 after purchasing an additional 55,456 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in Permian Basin Royalty Trust by 116.0% during 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 period. Institutional investors 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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