Permian Basin Royalty Trust (NYSE:PBT) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Shares of Permian Basin Royalty Trust (NYSE:PBT) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $22.29 and traded as high as $26.50. Permian Basin Royalty Trust shares last traded at $26.32, with a volume of 47,436 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Permian Basin Royalty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 21st. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Permian Basin Royalty Trust Stock Performance

The company’s 50-day simple moving average is $26.99 and its 200 day simple moving average is $22.29. The company has a market cap of $1.23 billion, a PE ratio of 82.25 and a beta of 0.48.

Permian Basin Royalty Trust (NYSE:PBT) last posted its quarterly earnings data on Thursday, May 14th. The oil and gas producer reported $0.06 earnings per share for the quarter. The business had revenue of $3.57 million for the quarter. Permian Basin Royalty Trust had a return on equity of 9,061.81% and a net margin of 88.99%.

Permian Basin Royalty Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.0247 per share. This represents a c) annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. This is a positive change from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. Permian Basin Royalty Trust’s payout ratio is presently 93.75%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

A number of hedge funds have recently bought and sold shares of the stock. MOR Wealth Management LLC acquired a new position in Permian Basin Royalty Trust during the 4th quarter worth approximately $892,000. Mad River Investors increased its position in shares of Permian Basin Royalty Trust by 7.0% in the 4th quarter. Mad River Investors now owns 986,819 shares of the oil and gas producer’s stock valued at $16,756,000 after purchasing an additional 64,589 shares during the last quarter. Horizon Kinetics Asset Management LLC raised its holdings in shares of Permian Basin Royalty Trust by 1.5% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 6,187,800 shares of the oil and gas producer’s stock valued at $105,069,000 after purchasing an additional 88,751 shares in the last quarter. Moors & Cabot Inc. raised its holdings in shares of Permian Basin Royalty Trust by 10.5% in the 4th quarter. Moors & Cabot Inc. now owns 585,746 shares of the oil and gas producer’s stock valued at $9,946,000 after purchasing an additional 55,456 shares in the last quarter. Finally, Hosking Partners LLP lifted its position in shares of Permian Basin Royalty Trust by 12.8% during the 4th quarter. Hosking Partners LLP now owns 346,683 shares of the oil and gas producer’s stock worth $5,887,000 after purchasing an additional 39,230 shares during the last quarter. Institutional investors and hedge funds 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.