Permian Basin Royalty Trust (NYSE:PBT) Hits New 1-Year High – Here’s What Happened

Shares of Permian Basin Royalty Trust (NYSE:PBT) hit a new 52-week high during trading on Friday . The stock traded as high as $35.50 and last traded at $33.95, with a volume of 114144 shares changing hands. The stock had previously closed at $33.86.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Permian Basin Royalty Trust in a report on Tuesday. One analyst has rated the stock with a Hold rating, According to MarketBeat, Permian Basin Royalty Trust currently has a consensus rating of “Hold”.

Permian Basin Royalty Trust Stock Up 0.3%

The company has a 50-day moving average of $28.54 and a 200-day moving average of $24.92. The company has a market cap of $1.58 billion, a PE ratio of 97.00 and a beta of 0.48.

Permian Basin Royalty Trust (NYSE:PBT) last announced its earnings results on Thursday, August 13th. The oil and gas producer reported $0.08 EPS for the quarter. The company had revenue of $4.18 million during the quarter. Permian Basin Royalty Trust had a net margin of 91.96% and a return on equity of 9,990.08%.

Permian Basin Royalty Trust Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were paid a $0.0436 dividend. The ex-dividend date was Friday, July 31st. This is a positive change from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. This represents a c) annualized dividend and a yield of 1.5%. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is currently 148.57%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mad River Investors increased its stake in shares of Permian Basin Royalty Trust by 7.0% in the fourth quarter. Mad River Investors now owns 986,819 shares of the oil and gas producer’s stock worth $16,756,000 after purchasing an additional 64,589 shares in the last quarter. Sei Investments Co. lifted its stake in shares of 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 in the last quarter. Horizon Kinetics Asset Management LLC lifted its stake in shares of Permian Basin Royalty Trust by 1.5% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 6,187,800 shares of the oil and gas producer’s stock valued at $105,069,000 after buying an additional 88,751 shares in the last quarter. Moors & Cabot Inc. boosted its holdings in Permian Basin Royalty Trust by 10.5% in the 4th quarter. Moors & Cabot Inc. now owns 585,746 shares of the oil and gas producer’s stock worth $9,946,000 after buying an additional 55,456 shares during the period. Finally, Hosking Partners LLP grew its stake in Permian Basin Royalty Trust by 12.8% in the 4th quarter. Hosking Partners LLP now owns 346,683 shares of the oil and gas producer’s stock valued at $5,887,000 after buying an additional 39,230 shares in the last quarter. 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.