TheStreet cut shares of Permian Basin Royalty Trust (NYSE:PBT) from a b- rating to a c+ rating in a report released on Monday morning, TheStreetRatingsTable reports.

Shares of NYSE PBT opened at $5.68 on Monday. The firm has a market capitalization of $279.19 million, a price-to-earnings ratio of 10.89 and a beta of 0.83. Permian Basin Royalty Trust has a fifty-two week low of $5.45 and a fifty-two week high of $9.53.

Permian Basin Royalty Trust (NYSE:PBT) last announced its quarterly earnings data on Wednesday, May 8th. The oil and gas producer reported $0.09 earnings per share for the quarter. The firm had revenue of $4.54 million during the quarter. Permian Basin Royalty Trust had a return on equity of 5,424.90% and a net margin of 95.52%.

The business also recently disclosed a monthly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a $0.0353 dividend. The ex-dividend date is Thursday, May 30th. This is a boost from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. This represents a $0.42 annualized dividend and a yield of 7.45%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Two Sigma Investments LP acquired a new position in Permian Basin Royalty Trust in the 4th quarter valued at $646,000. Two Sigma Advisers LP raised its holdings in Permian Basin Royalty Trust by 30.4% in the 4th quarter. Two Sigma Advisers LP now owns 63,033 shares of the oil and gas producer’s stock valued at $372,000 after acquiring an additional 14,700 shares in the last quarter. Howard Financial Services LTD. acquired a new position in Permian Basin Royalty Trust in the 4th quarter valued at $875,000. Royce & Associates LP raised its holdings in Permian Basin Royalty Trust by 1.1% in the 1st quarter. Royce & Associates LP now owns 890,390 shares of the oil and gas producer’s stock valued at $6,705,000 after acquiring an additional 9,370 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in Permian Basin Royalty Trust in the 4th quarter valued at $100,000. 9.99% of the stock is owned by hedge funds and other institutional investors.

About Permian Basin Royalty Trust

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, University-Waddell, and Waddell fields located in Crane County, Texas.

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