Permian Basin Royalty Trust (NYSE:PBT) Sets New 1-Year High – Should You Buy?

Permian Basin Royalty Trust (NYSE:PBT)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $22.71 and last traded at $21.8080, with a volume of 195938 shares changing hands. The stock had previously closed at $22.22.

Permian Basin Royalty Trust Trading Down 1.9%

The company has a market cap of $1.02 billion, a P/E ratio of 68.15 and a beta of 0.43. The company’s fifty day moving average is $19.78 and its 200 day moving average is $18.60.

Permian Basin Royalty Trust (NYSE:PBT) last posted its quarterly earnings results on Friday, March 27th. The oil and gas producer reported $0.06 earnings per share for the quarter. Permian Basin Royalty Trust had a net margin of 89.06% and a return on equity of 8,767.45%. The business had revenue of $2.61 million during the quarter.

Permian Basin Royalty Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st will be issued a $0.0107 dividend. The ex-dividend date is Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 0.6%. Permian Basin Royalty Trust’s payout ratio is currently 53.13%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its position in Permian Basin Royalty Trust by 6.0% during the 4th quarter. Royal Bank of Canada now owns 9,802 shares of the oil and gas producer’s stock worth $166,000 after acquiring an additional 558 shares during the last quarter. HighTower Advisors LLC lifted its position in Permian Basin Royalty Trust by 0.8% in the fourth quarter. HighTower Advisors LLC now owns 71,697 shares of the oil and gas producer’s stock valued at $1,217,000 after purchasing an additional 604 shares during the last quarter. BWM Planning LLC lifted its position in Permian Basin Royalty Trust by 0.6% in the third quarter. BWM Planning LLC now owns 104,397 shares of the oil and gas producer’s stock valued at $1,905,000 after purchasing an additional 672 shares during the last quarter. Atlantic Union Bankshares Corp boosted its stake in shares of Permian Basin Royalty Trust by 16.2% during the third quarter. Atlantic Union Bankshares Corp now owns 7,582 shares of the oil and gas producer’s stock valued at $138,000 after purchasing an additional 1,058 shares during the period. Finally, NewEdge Advisors LLC boosted its stake in shares of Permian Basin Royalty Trust by 53.1% during 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. 28.86% of the stock is currently 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.