Permian Basin Royalty Trust (NYSE:PBT) Announces Earnings Results

Permian Basin Royalty Trust (NYSE:PBT) issued its earnings results on Friday. The oil and gas producer reported $0.08 earnings per share for the quarter, Zacks reports. Permian Basin Royalty Trust had a net margin of 96.32% and a return on equity of 17,811.24%.

Permian Basin Royalty Trust Trading Up 2.9 %

Shares of PBT traded up $0.29 during trading hours on Friday, reaching $10.15. The company had a trading volume of 103,017 shares, compared to its average volume of 123,866. Permian Basin Royalty Trust has a 12-month low of $9.43 and a 12-month high of $14.58. The firm has a 50 day simple moving average of $11.08 and a 200-day simple moving average of $11.55. The company has a market capitalization of $472.85 million, a price-to-earnings ratio of 13.01 and a beta of 0.72.

Permian Basin Royalty Trust Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.0171 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.21 annualized dividend and a dividend yield of 2.02%. Permian Basin Royalty Trust’s payout ratio is currently 25.64%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Permian Basin Royalty Trust from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th.

About Permian Basin Royalty Trust

Permian Basin Royalty Trust, an express trust, holds royalty interests in various oil and gas properties in the United States. The company holds a 75% net overriding royalty interest in the Waddell Ranch properties, including Dune, Sand Hills (Judkins), Sand Hills (McKnight), Sand Hills (Tubb), University-Waddell (Devonian) and Waddell fields in Crane County, Texas.