Permian Basin Royalty Trust (NYSE:PBT) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Shares of Permian Basin Royalty Trust (NYSE:PBT) 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.

Analyst Upgrades and Downgrades

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

Permian Basin Royalty Trust Stock Performance

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

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

Permian Basin Royalty Trust Cuts Dividend

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

Institutional Investors Weigh In On Permian Basin Royalty Trust

Institutional investors and hedge funds have recently bought and sold shares of the business. Atlas Wealth Partners LLC grew its holdings in Permian Basin Royalty Trust by 1.9% in the 1st quarter. Atlas Wealth Partners LLC now owns 67,363 shares of the oil and gas producer’s stock worth $666,000 after buying an additional 1,265 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Permian Basin Royalty Trust by 16.1% during the 4th quarter. Ameriprise Financial Inc. now owns 11,688 shares of the oil and gas producer’s stock worth $128,000 after buying an additional 1,623 shares during the period. JPMorgan Chase & Co. raised its stake in Permian Basin Royalty Trust by 88.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,782 shares of the oil and gas producer’s stock valued at $53,000 after purchasing an additional 2,250 shares during the period. Golden State Wealth Management LLC grew its stake 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 valued at $48,000 after acquiring an additional 2,446 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. boosted its stake in shares of Permian Basin Royalty Trust by 19.2% during the 1st quarter. Pekin Hardy Strauss Inc. now owns 15,500 shares of the oil and gas producer’s stock valued at $154,000 after buying an additional 2,500 shares during the period. Institutional investors and hedge funds own 28.86% of the company’s stock.

Permian Basin Royalty Trust Company Profile

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.