Permian Basin Royalty Trust (NYSE:PBT) Stock Price Up 4.7% After Dividend Announcement

Permian Basin Royalty Trust (NYSE:PBT) shot up 4.7% during mid-day trading on Friday following a dividend announcement from the company. The stock traded as high as $12.12 and last traded at $12.12. 16,823 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 139,665 shares. The stock had previously closed at $11.58.

The newly announced dividend which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.0882 per share. The ex-dividend date is Monday, April 29th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 8.71%. Permian Basin Royalty Trust’s payout ratio is 83.33%.

Permian Basin Royalty Trust Stock Up 4.9 %

The business’s fifty day moving average is $12.75 and its two-hundred day moving average is $15.29. The firm has a market cap of $566.31 million, a price-to-earnings ratio of 20.25 and a beta of 0.59.

Permian Basin Royalty Trust (NYSE:PBT) last released its earnings results on Thursday, February 29th. The oil and gas producer reported $0.31 EPS for the quarter. Permian Basin Royalty Trust had a return on equity of 13,667.19% and a net margin of 96.16%. The company had revenue of $14.44 million during the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Schwartz Investment Counsel Inc. boosted its stake in Permian Basin Royalty Trust by 40.6% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 803,849 shares of the oil and gas producer’s stock valued at $11,254,000 after acquiring an additional 232,000 shares during the last quarter. LPL Financial LLC grew its stake in shares of Permian Basin Royalty Trust by 4.5% during the third quarter. LPL Financial LLC now owns 175,257 shares of the oil and gas producer’s stock worth $3,724,000 after purchasing an additional 7,498 shares during the period. UBS Group AG grew its stake in shares of Permian Basin Royalty Trust by 1.5% during the third quarter. UBS Group AG now owns 479,363 shares of the oil and gas producer’s stock worth $10,186,000 after purchasing an additional 7,142 shares during the period. Sowell Financial Services LLC bought a new stake in Permian Basin Royalty Trust in the third quarter valued at about $421,000. Finally, Kingswood Wealth Advisors LLC bought a new position in Permian Basin Royalty Trust during the third quarter worth about $3,021,000. Institutional investors own 28.86% of the company’s stock.

About Permian Basin Royalty Trust

Permian Basin Royalty Trust, an express trust, holds royalty interests in various oil and gas properties in the United States. The company holds a 75% net overriding royalty interest in the Waddell Ranch properties, including Dune, Sand Hills (Judkins), Sand Hills (McKnight), Sand Hills (Tubb), University-Waddell (Devonian) and Waddell fields in Crane County, Texas.