Log Out

Permian Basin Royalty Trust (NYSE:PBT) Shares Gap Up to $14.85

Financial News Live · Jul 20, 2022 04:21

Permian Basin Royalty Trust (NYSE:PBT – Get Rating)'s stock price gapped up prior to trading on Monday . The stock had previously closed at $14.85, but opened at $15.53. Permian Basin Royalty Trust shares last traded at $15.57, with a volume of 653 shares changing hands.

Analyst Upgrades and Downgrades

PBT has been the topic of a number of recent research reports. StockNews.com initiated coverage on Permian Basin Royalty Trust in a research report on Thursday, March 31st. They issued a "hold" rating on the stock. TheStreet raised Permian Basin Royalty Trust from a "c" rating to a "b" rating in a research report on Friday, May 20th.

Get Permian Basin Royalty Trust alerts:

Permian Basin Royalty Trust Trading Up 11.3 %

The business has a 50-day simple moving average of $16.99 and a two-hundred day simple moving average of $14.33.

Permian Basin Royalty Trust (NYSE:PBT – Get Rating) last announced its quarterly earnings results on Monday, May 16th. The oil and gas producer reported $0.08 earnings per share for the quarter. The firm had revenue of $4.08 million for the quarter. Permian Basin Royalty Trust had a return on equity of 3,610.01% and a net margin of 91.67%.

Permian Basin Royalty Trust Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were given a dividend of $0.092 per share. This represents a $1.10 dividend on an annualized basis and a yield of 6.32%. The ex-dividend date was Wednesday, June 29th. This is an increase from Permian Basin Royalty Trust's previous monthly dividend of $0.03.

Hedge Funds Weigh In On Permian Basin Royalty Trust

Institutional investors have recently bought and sold shares of the business. Selective Wealth Management Inc. acquired a new position in Permian Basin Royalty Trust during the first quarter worth approximately $31,000. Dorsey Wright & Associates bought a new stake in shares of Permian Basin Royalty Trust during the fourth quarter worth approximately $76,000. Legend Financial Advisors Inc. bought a new stake in shares of Permian Basin Royalty Trust during the fourth quarter worth approximately $112,000. Schubert & Co bought a new stake in shares of Permian Basin Royalty Trust during the fourth quarter worth approximately $126,000. Finally, Walleye Capital LLC bought a new stake in shares of Permian Basin Royalty Trust during the first quarter worth approximately $132,000.

About Permian Basin Royalty Trust

(Get Rating)

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.