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

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

Permian Basin Royalty Trust Trading Down 1.9%

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

Permian Basin Royalty Trust (NYSE:PBT) last announced its quarterly earnings results on Friday, March 27th. The oil and gas producer reported $0.06 earnings per share (EPS) 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 for the quarter.

Permian Basin Royalty Trust Cuts Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. XTX Topco Ltd bought a new position in Permian Basin Royalty Trust during the 4th quarter valued at approximately $230,000. Avondale Wealth Management grew its position in shares of Permian Basin Royalty Trust by 215.5% in the 4th quarter. Avondale Wealth Management now owns 45,750 shares of the oil and gas producer’s stock worth $777,000 after buying an additional 31,250 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Permian Basin Royalty Trust by 6.0% during 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 buying an additional 558 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of Permian Basin Royalty Trust during the fourth quarter valued at approximately $28,000. Finally, Walleye Capital LLC bought a new position in shares of Permian Basin Royalty Trust during the fourth quarter valued at approximately $211,000. Hedge funds and other institutional investors 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.