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

Shares of Permian Basin Royalty Trust (NYSE:PBT) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $16.34 and traded as high as $17.33. Permian Basin Royalty Trust shares last traded at $17.1650, with a volume of 46,426 shares.

Wall Street Analysts Forecast Growth

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

Permian Basin Royalty Trust Stock Performance

The stock has a 50 day moving average of $18.06 and a 200-day moving average of $16.34. The company has a market cap of $800.04 million, a PE ratio of 50.49 and a beta of 0.47.

Permian Basin Royalty Trust (NYSE:PBT) last announced its quarterly earnings data on Thursday, November 13th. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter. Permian Basin Royalty Trust had a return on equity of 9,354.51% and a net margin of 88.68%.The firm had revenue of $7.27 million during the quarter.

Permian Basin Royalty Trust Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.0132 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a c) dividend on an annualized basis and a yield of 0.9%. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is currently 44.12%.

Institutional Trading of Permian Basin Royalty Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. acquired a new position in Permian Basin Royalty Trust during the third quarter valued at $27,000. Foster Dykema Cabot & Partners LLC acquired a new stake in Permian Basin Royalty Trust during the 3rd quarter worth about $40,000. NewEdge Advisors LLC raised its stake in shares of Permian Basin Royalty Trust by 53.1% during the 2nd quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer’s stock valued at $47,000 after buying an additional 1,304 shares during the last quarter. Access Investment Management LLC acquired a new position in shares of Permian Basin Royalty Trust in the 2nd quarter valued at about $64,000. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of Permian Basin Royalty Trust in the 2nd quarter valued at about $81,000. Institutional investors and hedge funds own 28.86% of the company’s stock.

About Permian Basin Royalty Trust

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.