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

Permian Basin Royalty Trust (NYSE:PBT) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.95 and traded as high as $25.51. Permian Basin Royalty Trust shares last traded at $24.9650, with a volume of 77,531 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of 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, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Permian Basin Royalty Trust Stock Up 0.4%

The business has a fifty day simple moving average of $26.56 and a 200-day simple moving average of $21.95. The firm has a market cap of $1.16 billion, a P/E ratio of 78.02 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 EPS for the quarter. Permian Basin Royalty Trust had a net margin of 88.99% and a return on equity of 9,061.81%. The business had revenue of $3.57 million for the quarter.

Permian Basin Royalty Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.0247 per share. This represents a c) annualized dividend and a dividend yield of 1.2%. This is a boost from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. The ex-dividend date of this dividend is Tuesday, June 30th. Permian Basin Royalty Trust’s payout ratio is 93.75%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

A number of hedge funds have recently added to or reduced their stakes in PBT. Kestra Advisory Services LLC bought a new stake in shares of Permian Basin Royalty Trust during the 4th quarter valued at about $28,000. Foster Dykema Cabot & Partners LLC bought a new stake in shares of Permian Basin Royalty Trust during the 3rd quarter valued at $40,000. NewEdge Advisors LLC boosted its stake in shares of Permian Basin Royalty Trust by 53.1% in the second quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer’s stock worth $47,000 after acquiring an additional 1,304 shares during the period. CX Institutional grew its holdings in Permian Basin Royalty Trust by 80.3% during the 2nd quarter. CX Institutional now owns 2,109 shares of the oil and gas producer’s stock valued at $53,000 after buying an additional 939 shares in the last quarter. Finally, Bank of America Corp DE grew 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 valued at $162,000 after acquiring an additional 2,769 shares in the last quarter. 28.86% of the stock is currently 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.