Permian Basin Royalty Trust (NYSE:PBT) Sets New 12-Month High – Here’s Why

Shares of Permian Basin Royalty Trust (NYSE:PBT) hit a new 52-week high on Monday . The company traded as high as $23.75 and last traded at $23.9510, with a volume of 25251 shares traded. The stock had previously closed at $23.10.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of Permian Basin Royalty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 30th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Permian Basin Royalty Trust currently has an average rating of “Sell”.

Permian Basin Royalty Trust Trading Up 10.5%

The business has a 50-day simple moving average of $21.43 and a 200 day simple moving average of $19.35. The stock has a market cap of $1.19 billion, a P/E ratio of 79.76 and a beta of 0.42.

Permian Basin Royalty Trust (NYSE:PBT) last released its quarterly earnings results on Friday, March 27th. The oil and gas producer reported $0.06 EPS for the quarter. Permian Basin Royalty Trust had a return on equity of 8,774.67% and a net margin of 89.06%.The firm had revenue of $2.61 million for the quarter.

Permian Basin Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th will be given a $0.038 dividend. This is a boost from Permian Basin Royalty Trust’s previous monthly dividend of $0.01. The ex-dividend date is Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 1.8%. Permian Basin Royalty Trust’s dividend payout ratio is presently 143.75%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

A number of institutional investors have recently made changes to their positions in PBT. Creative Planning grew its position in shares of Permian Basin Royalty Trust by 14.5% in the 2nd quarter. Creative Planning now owns 14,995 shares of the oil and gas producer’s stock valued at $187,000 after buying an additional 1,903 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Permian Basin Royalty Trust by 2,233.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 104,298 shares of the oil and gas producer’s stock valued at $1,300,000 after buying an additional 99,829 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Permian Basin Royalty Trust in the 2nd quarter valued at about $188,000. NewEdge Advisors LLC lifted its stake in shares of Permian Basin Royalty Trust by 53.1% in the 2nd quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer’s stock valued at $47,000 after purchasing an additional 1,304 shares during the period. Finally, Raymond James Financial Inc. lifted its stake in shares of Permian Basin Royalty Trust by 145.1% in the 2nd quarter. Raymond James Financial Inc. now owns 64,466 shares of the oil and gas producer’s stock valued at $803,000 after purchasing an additional 38,164 shares during the period. 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.