Permian Basin Royalty Trust (NYSE:PBT) Shares Cross Above 200-Day Moving Average – Time to Sell?

Permian Basin Royalty Trust (NYSE:PBT) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $15.50 and traded as high as $17.90. Permian Basin Royalty Trust shares last traded at $17.3350, with a volume of 87,437 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Permian Basin Royalty Trust in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.

Permian Basin Royalty Trust Stock Performance

The business has a 50-day moving average of $18.15 and a 200 day moving average of $15.50. The stock has a market cap of $807.97 million, a PE ratio of 48.15 and a beta of 0.47.

Permian Basin Royalty Trust (NYSE:PBT) last released its earnings results on Thursday, November 13th. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter. The company had revenue of $7.27 million for the quarter. Permian Basin Royalty Trust had a net margin of 89.90% and a return on equity of 9,737.65%.

Permian Basin Royalty Trust Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 28th will be given a dividend of $0.0192 per share. The ex-dividend date is Friday, November 28th. This represents a c) dividend on an annualized basis and a yield of 1.3%. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is 67.65%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. SoftVest Advisors LLC lifted its stake in shares of Permian Basin Royalty Trust by 40.1% during the 2nd quarter. SoftVest Advisors LLC now owns 6,206,624 shares of the oil and gas producer’s stock worth $77,335,000 after purchasing an additional 1,776,929 shares during the period. Horizon Kinetics Asset Management LLC lifted its position in Permian Basin Royalty Trust by 41.3% during the second quarter. Horizon Kinetics Asset Management LLC now owns 5,839,825 shares of the oil and gas producer’s stock worth $72,764,000 after buying an additional 1,705,498 shares during the period. Advisory Services Network LLC boosted its stake in Permian Basin Royalty Trust by 327.9% in the 2nd quarter. Advisory Services Network LLC now owns 246,391 shares of the oil and gas producer’s stock worth $3,299,000 after buying an additional 188,807 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Permian Basin Royalty Trust by 2,233.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 104,298 shares of the oil and gas producer’s stock valued at $1,300,000 after buying an additional 99,829 shares during the period. Finally, Bessemer Group Inc. increased its stake in shares of Permian Basin Royalty Trust by 4,701.1% during the 2nd quarter. Bessemer Group Inc. now owns 96,021 shares of the oil and gas producer’s stock valued at $1,196,000 after acquiring an additional 94,021 shares during the last quarter. 28.86% of the stock is currently owned by institutional investors and hedge funds.

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.