Permian Basin Royalty Trust (NYSE:PBT) Posts Quarterly Earnings Results

by · The Cerbat Gem

Permian Basin Royalty Trust (NYSE:PBT – Get Free Report) announced its earnings results on Thursday. The oil and gas producer reported $0.06 EPS for the quarter, Zacks reports. Permian Basin Royalty Trust had a net margin of 89.06% and a return on equity of 8,774.67%.

Permian Basin Royalty Trust Price Performance

NYSE:PBT traded down $1.62 during mid-day trading on Thursday, reaching $27.24. The stock had a trading volume of 295,532 shares, compared to its average volume of 186,215. The stock has a 50-day simple moving average of $22.07 and a two-hundred day simple moving average of $19.66. The stock has a market capitalization of $1.27 billion, a PE ratio of 85.12 and a beta of 0.42. Permian Basin Royalty Trust has a 12 month low of $10.21 and a 12 month high of $29.40.

Permian Basin Royalty Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, May 14th. Investors of record on Thursday, April 30th will be paid a $0.038 dividend. This represents a c) dividend on an annualized basis and a yield of 1.7%. This is a positive change from Permian Basin Royalty Trust’s previous monthly dividend of $0.01. The ex-dividend date of this dividend is Thursday, April 30th. Permian Basin Royalty Trust’s payout ratio is 143.75%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PBT. Kestra Advisory Services LLC bought a new position in Permian Basin Royalty Trust in the fourth quarter valued at approximately $28,000. NewEdge Advisors LLC increased its stake in 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 acquiring an additional 1,304 shares during the last quarter. Bank of America Corp DE increased its stake in Permian Basin Royalty Trust by 27.0% in the second quarter. Bank of America Corp DE now owns 13,037 shares of the oil and gas producer’s stock valued at $162,000 after acquiring an additional 2,769 shares during the last quarter. Royal Bank of Canada increased its stake in Permian Basin Royalty Trust by 6.0% in the fourth quarter. Royal Bank of Canada now owns 9,802 shares of the oil and gas producer’s stock valued at $166,000 after acquiring an additional 558 shares during the last quarter. Finally, Creative Planning increased its stake in Permian Basin Royalty Trust by 14.5% in the second quarter. Creative Planning now owns 14,995 shares of the oil and gas producer’s stock valued at $187,000 after acquiring an additional 1,903 shares during the last quarter. 28.86% of the stock is owned by institutional investors.

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 report on Monday, March 30th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Get Our Latest Stock Analysis on Permian Basin Royalty Trust

About Permian Basin Royalty Trust

(Get Free Report)

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.

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