Permian Basin Royalty Trust (NYSE:PBT) Reaches New 1-Year High Following Dividend Announcement

Permian Basin Royalty Trust (NYSE:PBT) shares reached a new 52-week high on Monday after the company announced a dividend. The company traded as high as $29.49 and last traded at $27.8270, with a volume of 46783 shares trading hands. The stock had previously closed at $29.01.

The newly announced dividend which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be paid a dividend of $0.0204 per share. This represents a c) dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, May 29th. Permian Basin Royalty Trust’s dividend payout ratio is currently 143.75%.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Permian Basin Royalty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 30th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Permian Basin Royalty Trust Price Performance

The business’s 50-day moving average price is $22.62 and its two-hundred day moving average price is $19.91. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 96.27 and a beta of 0.42.

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

Institutional Trading of Permian Basin Royalty Trust

A number of hedge funds and other institutional investors have recently modified their holdings of PBT. SoftVest Advisors LLC grew its stake in shares of Permian Basin Royalty Trust by 40.1% during the second quarter. SoftVest Advisors LLC now owns 6,206,624 shares of the oil and gas producer’s stock worth $77,335,000 after buying an additional 1,776,929 shares during the last quarter. Sei Investments Co. grew its stake in shares of Permian Basin Royalty Trust by 116.0% during the first quarter. Sei Investments Co. now owns 422,000 shares of the oil and gas producer’s stock worth $9,081,000 after buying an additional 226,600 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Permian Basin Royalty Trust by 2,233.8% during the second quarter. JPMorgan Chase & Co. now owns 104,298 shares of the oil and gas producer’s stock worth $1,300,000 after buying an additional 99,829 shares during the last quarter. UBS Group AG grew its stake in shares of Permian Basin Royalty Trust by 170.1% during the third quarter. UBS Group AG now owns 147,578 shares of the oil and gas producer’s stock worth $2,693,000 after buying an additional 92,936 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC grew its stake in shares of Permian Basin Royalty Trust by 1.5% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 6,187,800 shares of the oil and gas producer’s stock worth $105,069,000 after buying an additional 88,751 shares during 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.