Permian Basin Royalty Trust (NYSE:PBT) Share Price Passes Above 200-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 Monday . The stock has a 200-day moving average of $10.82 and traded as high as $12.13. Permian Basin Royalty Trust shares last traded at $11.83, with a volume of 240,477 shares.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Permian Basin Royalty Trust from a “buy” rating to a “hold” rating in a report on Thursday, February 20th.

Permian Basin Royalty Trust Trading Up 0.7%

The company has a market capitalization of $551.29 million, a price-to-earnings ratio of 15.16 and a beta of 0.56. The stock’s 50 day moving average price is $10.46 and its 200 day moving average price is $10.82.

Permian Basin Royalty Trust (NYSE:PBT) last released its quarterly earnings results on Wednesday, May 14th. The oil and gas producer reported $0.06 earnings per share for the quarter. Permian Basin Royalty Trust had a net margin of 96.32% and a return on equity of 17,811.24%. The firm had revenue of $3.07 million for the quarter.

Permian Basin Royalty Trust Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were given a $0.0188 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a yield of 2.01%. Permian Basin Royalty Trust’s dividend payout ratio is currently 44.90%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

Several large investors have recently modified their holdings of the business. JPMorgan Chase & Co. grew its stake in shares of Permian Basin Royalty Trust by 88.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,782 shares of the oil and gas producer’s stock worth $53,000 after purchasing an additional 2,250 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in Permian Basin Royalty Trust by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 4,892 shares of the oil and gas producer’s stock worth $48,000 after buying an additional 2,446 shares during the period. Sunbelt Securities Inc. grew its position in shares of Permian Basin Royalty Trust by 7,352.9% in the 1st quarter. Sunbelt Securities Inc. now owns 6,335 shares of the oil and gas producer’s stock valued at $63,000 after buying an additional 6,250 shares during the last quarter. Atria Wealth Solutions Inc. bought a new stake in shares of Permian Basin Royalty Trust in the 4th quarter valued at about $127,000. Finally, Ameriprise Financial Inc. increased its stake in shares of Permian Basin Royalty Trust by 16.1% in the fourth quarter. Ameriprise Financial Inc. now owns 11,688 shares of the oil and gas producer’s stock valued at $128,000 after buying an additional 1,623 shares during the period. Institutional investors own 28.86% of the company’s stock.

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.