Permian Basin Royalty Trust (NYSE:PBT) Shares Up 3.7% - What's Next?

Key Points

• Permian Basin Royalty Trust shares rose 3.7% to about $36.89, although trading volume was 82% below the average daily level.
• Analysts maintain a “Hold” consensus, with Weiss Ratings reiterating its “hold (c-)” rating. The trust reported quarterly EPS of $0.08 on $4.18 million in revenue.
• The trust declared a monthly dividend of $0.0187 per share, implying a 0.6% annualized yield, while institutional investors own 28.86% of outstanding shares.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) shares traded up 3.7% on Tuesday . The company traded as high as $36.62 and last traded at $36.8880. Approximately 22,313 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 126,781 shares. The stock had previously closed at $35.58.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "hold (c-)" rating on shares of Permian Basin Royalty Trust in a report on Tuesday, August 18th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of "Hold".

Permian Basin Royalty Trust Price Performance

The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 104.13 and a beta of 0.50. The firm has a 50-day moving average price of $31.61 and a two-hundred day moving average price of $26.79.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last announced its earnings results on Thursday, August 13th. The oil and gas producer reported $0.08 earnings per share (EPS) for the quarter. The business had revenue of $4.18 million for 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 firm also recently disclosed 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 dividend payout ratio (DPR) is 62.86%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC increased its position in shares of Permian Basin Royalty Trust by 0.8% in the fourth quarter. HighTower Advisors LLC now owns 71,697 shares of the oil and gas producer's stock valued at $1,217,000 after acquiring an additional 604 shares during the last quarter. NewEdge Advisors LLC boosted its position in Permian Basin Royalty Trust by 25.1% during the second quarter. NewEdge Advisors LLC now owns 3,493 shares of the oil and gas producer's stock valued at $87,000 after purchasing an additional 701 shares during the last quarter. CX Institutional boosted its position in Permian Basin Royalty Trust by 80.3% during the second quarter. CX Institutional now owns 2,109 shares of the oil and gas producer's stock valued at $53,000 after purchasing an additional 939 shares during the last quarter. Welch Group LLC boosted its position in Permian Basin Royalty Trust by 8.4% during the first quarter. Welch Group LLC now owns 19,298 shares of the oil and gas producer's stock valued at $415,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Corient Private Wealth LP grew its stake 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 valued at $522,000 after purchasing an additional 1,974 shares in the last quarter. Institutional investors and hedge funds own 28.86% of the company's stock.

Permian Basin Royalty Trust Company Profile

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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