Permian Basin Royalty Trust (NYSE:PBT) Stock Price Crosses Above Two Hundred 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 Wednesday . The stock has a two hundred day moving average of $16.77 and traded as high as $18.75. Permian Basin Royalty Trust shares last traded at $18.3950, with a volume of 94,029 shares trading hands.

Wall Street Analyst Weigh In

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, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Permian Basin Royalty Trust Trading Up 1.5%

The business has a fifty day moving average price of $17.94 and a two-hundred day moving average price of $16.77. The company has a market cap of $857.39 million, a price-to-earnings ratio of 54.10 and a beta of 0.45.

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

Permian Basin Royalty Trust Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a $0.0132 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a c) dividend on an annualized basis and a dividend yield of 0.9%. Permian Basin Royalty Trust’s dividend payout ratio is 47.06%.

Institutional Trading of Permian Basin Royalty Trust

A number of institutional investors have recently bought and sold shares of PBT. BWM Planning LLC increased its position in Permian Basin Royalty Trust by 0.6% in the 3rd quarter. BWM Planning LLC now owns 104,397 shares of the oil and gas producer’s stock worth $1,905,000 after purchasing an additional 672 shares during the last quarter. Virtus Investment Advisers LLC grew its stake in shares of Permian Basin Royalty Trust by 7.1% in the 2nd quarter. Virtus Investment Advisers LLC now owns 14,369 shares of the oil and gas producer’s stock valued at $179,000 after buying an additional 949 shares in the last quarter. Atlantic Union Bankshares Corp increased its holdings in Permian Basin Royalty Trust by 16.2% in 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 last quarter. NewEdge Advisors LLC raised its position 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 valued at $47,000 after acquiring an additional 1,304 shares in the last quarter. Finally, Geneos Wealth Management Inc. acquired a new stake in Permian Basin Royalty Trust in the third quarter valued at approximately $27,000. 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.