Permian Basin Royalty Trust (NYSE:PBT) Trading Down 4% - Time to Sell?

Key Points

• Permian Basin Royalty Trust shares fell 4% to about $33.87 in light trading, while Weiss Ratings reiterated a “hold (C-)” rating; the stock’s overall analyst consensus remains “Hold.”
• The trust reported $0.08 in quarterly EPS and $4.18 million in revenue, with a 96.14 price-to-earnings ratio and a market capitalization of approximately $1.57 billion.
• Permian Basin Royalty Trust announced a monthly dividend of $0.0196, equating to an annualized yield of roughly 0.7%; institutional investors own 28.86% of the stock.

Shares of Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) were down 4% on Monday . The company traded as low as $34.03 and last traded at $33.8710. Approximately 11,244 shares were traded during trading, a decline of 91% from the average session volume of 127,594 shares. The stock had previously closed at $35.30.

Analyst Ratings Changes

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

Permian Basin Royalty Trust Price Performance

The business has a 50 day simple moving average of $32.32 and a 200 day simple moving average of $27.22. The stock has a market cap of $1.57 billion, a PE ratio of 96.14 and a beta of 0.50.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last announced its quarterly 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 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 Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a $0.0196 dividend. This represents a c) dividend on an annualized basis and a yield of 0.7%. This is a boost from Permian Basin Royalty Trust's previous monthly dividend of $0.02. The ex-dividend date is Wednesday, September 30th. Permian Basin Royalty Trust's dividend payout ratio is presently 62.86%.

Institutional Trading of Permian Basin Royalty Trust

Several large investors have recently added to or reduced their stakes in the business. CX Institutional lifted its stake in shares of Permian Basin Royalty Trust by 80.3% in the 2nd 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. NewEdge Advisors LLC increased 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 worth $87,000 after buying an additional 701 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Permian Basin Royalty Trust during the second quarter valued at about $114,000. Post Resch Tallon Group Inc. acquired a new position in shares of Permian Basin Royalty Trust during the 2nd quarter valued at about $210,000. Finally, Tidal Investments LLC acquired a new position in shares of Permian Basin Royalty Trust during the 2nd quarter valued at about $211,000. 28.86% of the stock is owned by institutional investors.

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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