Permian Basin Royalty Trust (NYSE:PBT) Releases Quarterly Earnings Results

Permian Basin Royalty Trust (NYSE:PBT) posted its earnings results on Friday. The oil and gas producer reported $0.08 earnings per share (EPS) for the quarter, Zacks reports. The company had revenue of $3.79 million during the quarter. Permian Basin Royalty Trust had a return on equity of 17,811.24% and a net margin of 96.32%.

Permian Basin Royalty Trust Stock Performance

Shares of PBT opened at $10.21 on Friday. The stock has a 50 day simple moving average of $11.02 and a 200 day simple moving average of $11.53. Permian Basin Royalty Trust has a 52-week low of $9.43 and a 52-week high of $14.58. The firm has a market capitalization of $475.64 million, a PE ratio of 13.08 and a beta of 0.72.

Permian Basin Royalty Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.0171 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.21 annualized dividend and a dividend yield of 2.01%. Permian Basin Royalty Trust’s dividend payout ratio is presently 25.64%.

Analysts Set New Price Targets

Separately, StockNews.com lowered Permian Basin Royalty Trust from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th.

About Permian Basin Royalty Trust

Permian Basin Royalty Trust, an express trust, holds royalty interests in various oil and gas properties in the United States. The company holds a 75% net overriding royalty interest in the Waddell Ranch properties, including Dune, Sand Hills (Judkins), Sand Hills (McKnight), Sand Hills (Tubb), University-Waddell (Devonian) and Waddell fields in Crane County, Texas.