Permian Basin Royalty Trust (NYSE:PBT) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Permian Basin Royalty Trust (NYSE:PBT) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $20.41 and traded as high as $29.94. Permian Basin Royalty Trust shares last traded at $27.9530, with a volume of 236,231 shares changing hands.

Analyst Ratings Changes

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

Permian Basin Royalty Trust Stock Down 6.7%

The business’s fifty day moving average is $23.78 and its two-hundred day moving average is $20.41. The stock has a market capitalization of $1.30 billion, a PE ratio of 87.35 and a beta of 0.42.

Permian Basin Royalty Trust (NYSE:PBT) last posted its earnings results on Thursday, 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 88.99% and a return on equity of 9,061.81%. The firm had revenue of $3.57 million during the quarter.

Permian Basin Royalty Trust Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be issued a $0.0204 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 0.9%. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is 143.75%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Kestra Advisory Services LLC purchased a new position in Permian Basin Royalty Trust during the fourth quarter worth $28,000. Foster Dykema Cabot & Partners LLC purchased a new position in Permian Basin Royalty Trust during the third quarter worth $40,000. NewEdge Advisors LLC boosted its stake in Permian Basin Royalty Trust by 53.1% during the second 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 during the period. Atlantic Union Bankshares Corp boosted its stake in Permian Basin Royalty Trust by 16.2% during the third quarter. Atlantic Union Bankshares Corp now owns 7,582 shares of the oil and gas producer’s stock worth $138,000 after buying an additional 1,058 shares during the period. Finally, Bank of America Corp DE boosted its stake in Permian Basin Royalty Trust by 27.0% during the second quarter. Bank of America Corp DE now owns 13,037 shares of the oil and gas producer’s stock worth $162,000 after buying an additional 2,769 shares during the period. 28.86% of the stock is owned by hedge funds and other institutional investors.

Permian Basin Royalty Trust Company Profile

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.