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

Permian Basin Royalty Trust (NYSE:PBT)’s stock price gapped up before the market opened on Wednesday. The stock had previously closed at $32.34, but opened at $33.21. Permian Basin Royalty Trust shares last traded at $33.5040, with a volume of 8,976 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Permian Basin Royalty Trust in a research note on Tuesday, August 18th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Permian Basin Royalty Trust Stock Performance

The stock has a fifty day moving average of $33.36 and a 200-day moving average of $28.25. The company has a market cap of $1.55 billion, a PE ratio of 95.19 and a beta of 0.56.

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

Permian Basin Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a $0.0196 dividend. The ex-dividend date is Wednesday, September 30th. This is a boost from Permian Basin Royalty Trust’s previous monthly dividend of $0.0187. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.7%. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is currently 65.71%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PBT. CX Institutional raised its stake in Permian Basin Royalty Trust by 31.5% in the third quarter. CX Institutional now owns 2,773 shares of the oil and gas producer’s stock worth $87,000 after buying an additional 664 shares in the last quarter. NewEdge Advisors LLC boosted its position in Permian Basin Royalty Trust by 25.1% during the 2nd quarter. NewEdge Advisors LLC now owns 3,493 shares of the oil and gas producer’s stock valued at $87,000 after acquiring an additional 701 shares in the last quarter. Welch Group LLC increased its holdings 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 valued at $415,000 after acquiring an additional 1,500 shares during the period. Corient Private Wealth LP increased its holdings in shares of Permian Basin Royalty Trust by 10.4% in the 2nd quarter. Corient Private Wealth LP now owns 20,865 shares of the oil and gas producer’s stock valued at $522,000 after acquiring an additional 1,974 shares during the period. Finally, Lido Advisors LLC increased its holdings in shares of Permian Basin Royalty Trust by 3.5% in the 4th quarter. Lido Advisors LLC now owns 122,523 shares of the oil and gas producer’s stock valued at $2,244,000 after acquiring an additional 4,182 shares during the period. Institutional investors own 28.86% of the company’s stock.

About Permian Basin Royalty Trust

Permian Basin Royalty Trust (NYSE:PBT) is a grantor trust that owns royalty and net profits interests in oil and natural gas properties located primarily in the Permian Basin of West Texas. The trust does not operate wells or provide products and services directly; instead, it receives proceeds generated by the underlying properties and distributes the resulting income to its unitholders.

The trust’s interests include properties associated with the Waddell Ranch and other Texas royalty assets.