Permian Basin Royalty Trust (NYSE:PBT) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Permian Basin Royalty Trust (NYSE:PBT)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $17.39 and traded as high as $18.74. Permian Basin Royalty Trust shares last traded at $18.2750, with a volume of 34,158 shares traded.

Permian Basin Royalty Trust Stock Up 0.8%

The stock has a market capitalization of $855.76 million, a P/E ratio of 54.00 and a beta of 0.46. The business has a 50-day simple moving average of $17.89 and a two-hundred day simple moving average of $17.43.

Permian Basin Royalty Trust (NYSE:PBT) last posted its earnings results on Thursday, November 13th. The oil and gas producer reported $0.15 earnings per share for the quarter. Permian Basin Royalty Trust had a net margin of 88.68% and a return on equity of 9,354.51%. The business had revenue of $7.27 million for the quarter.

Permian Basin Royalty Trust Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be issued a $0.0401 dividend. This represents a c) annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, January 30th. This is an increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.01. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is presently 141.18%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

Several institutional investors have recently bought and sold shares of PBT. HighTower Advisors LLC raised its stake in shares of Permian Basin Royalty Trust by 0.8% in the fourth quarter. HighTower Advisors LLC now owns 71,697 shares of the oil and gas producer’s stock worth $1,217,000 after acquiring an additional 604 shares during the last quarter. BWM Planning LLC increased its holdings in shares of Permian Basin Royalty Trust by 0.6% in the third quarter. BWM Planning LLC now owns 104,397 shares of the oil and gas producer’s stock valued at $1,905,000 after purchasing an additional 672 shares in the last quarter. Virtus Investment Advisers LLC increased its holdings in shares of Permian Basin Royalty Trust by 7.1% in the second quarter. Virtus Investment Advisers LLC now owns 14,369 shares of the oil and gas producer’s stock valued at $179,000 after purchasing an additional 949 shares in the last quarter. Atlantic Union Bankshares Corp raised its position in Permian Basin Royalty Trust by 16.2% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 7,582 shares of the oil and gas producer’s stock worth $138,000 after purchasing an additional 1,058 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in Permian Basin Royalty Trust by 53.1% during the 2nd quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer’s stock worth $47,000 after buying an additional 1,304 shares in the last quarter. Institutional investors own 28.86% of the company’s stock.

About Permian Basin Royalty Trust

Permian Basin Royalty Trust (NYSE: PBT) is a passive investment vehicle that holds overriding royalty interests in oil and gas properties located in the Permian Basin region of West Texas. Established in 1980 by Apache Oil Company, the Trust does not engage in exploration or production activities. Instead, it owns net profit interests on specified acreage, allowing unitholders to participate directly in the cash flows generated by hydrocarbon extraction without bearing the costs or risks associated with day-to-day field operations.

The Trust’s interests cover acreage predominantly in Reeves and Loving Counties, where mature wells have been developed over several decades.