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

Permian Basin Royalty Trust (NYSE:PBT) released 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 Stock Performance

PBT traded up $0.35 during trading hours on Friday, reaching $10.21. The company’s stock had a trading volume of 112,219 shares, compared to its average volume of 123,915. The company’s 50-day moving average is $11.08 and its 200-day moving average is $11.55. Permian Basin Royalty Trust has a 52 week low of $9.43 and a 52 week high of $14.58. The firm has a market cap of $475.64 million, a PE ratio of 13.08 and a beta of 0.72.

Permian Basin Royalty Trust Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid 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 2.01%. Permian Basin Royalty Trust’s dividend payout ratio is currently 25.64%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Permian Basin Royalty Trust from a “buy” rating to a “hold” rating in a 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.