Permian Basin Royalty Trust (NYSE:PBT) Shares Gap Up – Time to Buy?

Shares of Permian Basin Royalty Trust (NYSE:PBT) gapped up prior to trading on Friday . The stock had previously closed at $18.82, but opened at $19.65. Permian Basin Royalty Trust shares last traded at $19.4760, with a volume of 8,788 shares trading hands.

Permian Basin Royalty Trust Trading Down 1.2%

The firm has a market capitalization of $900.88 million, a price-to-earnings ratio of 56.85 and a beta of 0.46. The business’s fifty day moving average price is $18.07 and its 200 day moving average price is $17.84.

Permian Basin Royalty Trust Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be given a dividend of $0.0142 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 0.9%. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is presently 141.18%.

Institutional Trading of Permian Basin Royalty Trust

Institutional investors and hedge funds have recently bought and sold shares of the company. Geneos Wealth Management Inc. acquired a new stake in shares of Permian Basin Royalty Trust during the 3rd quarter valued at approximately $27,000. Kestra Advisory Services LLC bought a new stake in Permian Basin Royalty Trust during the fourth quarter valued at $28,000. Foster Dykema Cabot & Partners LLC acquired a new stake in shares of Permian Basin Royalty Trust during the third quarter worth $40,000. NewEdge Advisors LLC lifted its position in shares of Permian Basin Royalty Trust by 53.1% in the 2nd quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer’s stock worth $47,000 after buying an additional 1,304 shares during the last quarter. Finally, Access Investment Management LLC acquired a new position in shares of Permian Basin Royalty Trust in the 2nd quarter valued at about $64,000. Institutional investors and hedge funds own 28.86% of the company’s stock.

About Permian Basin Royalty Trust

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.