Permian Basin Royalty Trust (NYSE:PBT) Shares Gap Up – Still a Buy?

Permian Basin Royalty Trust (NYSE:PBT)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $32.92, but opened at $33.98. Permian Basin Royalty Trust shares last traded at $32.9890, with a volume of 4,572 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded 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, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Permian Basin Royalty Trust Stock Up 1.1%

The firm has a market cap of $1.55 billion, a PE ratio of 94.59 and a beta of 0.48. The business has a 50 day simple moving average of $28.22 and a two-hundred day simple moving average of $24.60.

Permian Basin Royalty Trust (NYSE:PBT) last issued its earnings results on Thursday, August 13th. The oil and gas producer reported $0.08 earnings per share (EPS) for the quarter. The firm 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 business also recently disclosed a monthly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a dividend of $0.0436 per share. This represents a c) dividend on an annualized basis and a yield of 1.6%. 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. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is 148.57%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Several large investors have recently added to or reduced their stakes in the stock. Creative Planning increased its position in shares of Permian Basin Royalty Trust by 14.5% during the second quarter. Creative Planning now owns 14,995 shares of the oil and gas producer’s stock worth $187,000 after acquiring an additional 1,903 shares during the period. JPMorgan Chase & Co. raised 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 valued at $1,300,000 after acquiring an additional 99,829 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Permian Basin Royalty Trust in the second quarter valued at approximately $188,000. NewEdge Advisors LLC boosted its holdings in shares of Permian Basin Royalty Trust by 53.1% in the second 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. grew its stake in Permian Basin Royalty Trust by 145.1% in the second quarter. Raymond James Financial Inc. now owns 64,466 shares of the oil and gas producer’s stock worth $803,000 after purchasing an additional 38,164 shares in the last quarter. 28.86% of the stock is owned by hedge funds and other institutional investors.

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.