Permian Basin Royalty Trust (NYSE:PBT – Get Rating) shot up 2.8% on Monday . The stock traded as high as $15.72 and last traded at $15.62. 10,364 shares were traded during mid-day trading, a decline of 97% from the average session volume of 301,829 shares. The stock had previously closed at $15.20.
Several brokerages have weighed in on PBT. TheStreet raised Permian Basin Royalty Trust from a "c" rating to a "b" rating in a report on Friday, May 20th. StockNews.com initiated coverage on Permian Basin Royalty Trust in a report on Thursday, March 31st. They set a "hold" rating for the company.
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The stock has a fifty day moving average of $16.76 and a 200 day moving average of $14.11.
Permian Basin Royalty Trust (NYSE:PBT – Get Rating) last released its earnings results on Monday, May 16th. The oil and gas producer reported $0.08 EPS for the quarter. Permian Basin Royalty Trust had a return on equity of 3,610.01% and a net
margin of 91.67%. The firm had revenue of $4.08 million during the quarter.
The company also recently announced a monthly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be issued a dividend of $0.092 per share. This is an increase from Permian Basin Royalty Trust's previous monthly dividend of $0.03. The ex-dividend date is Wednesday, June 29th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 7.32%.
Several institutional investors have recently added to or reduced their stakes in the stock. Beese Fulmer Investment Management Inc. raised its position in Permian Basin Royalty Trust by 2.4% during the second quarter. Beese Fulmer Investment Management Inc. now owns 41,873 shares of the oil and gas producer's stock valued at $693,000 after acquiring an additional 1,001 shares in the last quarter. Selective Wealth Management Inc. purchased a new position in Permian Basin Royalty Trust during the first quarter valued at approximately $31,000. Dorsey Wright & Associates purchased a new position in Permian Basin Royalty Trust during the fourth quarter valued at approximately $76,000. Walleye Capital LLC purchased a new position in Permian Basin Royalty Trust during the first quarter valued at approximately $132,000. Finally, Legend Financial Advisors Inc. purchased a new position in Permian Basin Royalty Trust during the fourth quarter valued at approximately $112,000.
Permian Basin Royalty Trust Company Profile (NYSE:PBT)
Permian Basin Royalty Trust, an express trust, holds overriding royalty interests in various oil and gas properties in the United States. The company owns a 75% net overriding royalty interest in the Waddell Ranch properties comprising Dune, Judkins, McKnight, Tubb, Devonian, and Waddell fields located in Crane County, Texas.
Further Reading
- Get a free copy of the StockNews.com research report on Permian Basin Royalty Trust (PBT)
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