Permian Basin Royalty Trust (NYSE:PBT) Shares Up 4.5% – Should You Buy?

Permian Basin Royalty Trust (NYSE:PBT) traded up 4.5% on Monday . The company traded as high as $27.49 and last traded at $27.3820. Approximately 11,282 shares changed hands during trading, a decline of 91% from the average session volume of 129,200 shares. The stock had previously closed at $26.20.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Permian Basin Royalty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 21st. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold”.

Permian Basin Royalty Trust Price Performance

The firm has a market capitalization of $1.29 billion, a P/E ratio of 86.48 and a beta of 0.48. The stock has a fifty day simple moving average of $27.19 and a two-hundred day simple moving average of $22.48.

Permian Basin Royalty Trust (NYSE:PBT) last issued its quarterly earnings results on Thursday, May 14th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter. The firm had revenue of $3.57 million for the quarter. Permian Basin Royalty Trust had a return on equity of 9,061.81% and a net margin of 88.99%.

Permian Basin Royalty Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.0247 per share. This represents a c) dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, June 30th. This is a boost from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. Permian Basin Royalty Trust’s dividend payout ratio is presently 93.75%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada raised its position in Permian Basin Royalty Trust by 6.0% in the 4th quarter. Royal Bank of Canada now owns 9,802 shares of the oil and gas producer’s stock valued at $166,000 after buying an additional 558 shares during the last quarter. HighTower Advisors LLC lifted its stake in Permian Basin Royalty Trust by 0.8% during the 4th 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 in the last quarter. CX Institutional boosted its holdings in Permian Basin Royalty Trust by 80.3% during the 2nd quarter. CX Institutional now owns 2,109 shares of the oil and gas producer’s stock worth $53,000 after acquiring an additional 939 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in Permian Basin Royalty Trust by 53.1% during the 2nd quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer’s stock worth $47,000 after acquiring an additional 1,304 shares during the last quarter. Finally, Welch Group LLC grew its stake in shares of Permian Basin Royalty Trust by 8.4% in the 1st quarter. Welch Group LLC now owns 19,298 shares of the oil and gas producer’s stock worth $415,000 after acquiring an additional 1,500 shares in the last quarter. 28.86% of the stock is owned by institutional investors.

About Permian Basin Royalty Trust

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.