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 two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $17.63 and traded as high as $19.00. Permian Basin Royalty Trust shares last traded at $18.8710, with a volume of 45,889 shares traded.

Permian Basin Royalty Trust Stock Up 1.8%

The stock has a market capitalization of $879.56 million, a price-to-earnings ratio of 55.50 and a beta of 0.46. The stock has a 50 day moving average price of $17.96 and a 200 day moving average price of $17.63.

Permian Basin Royalty Trust (NYSE:PBT) last released 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 company had revenue of $7.27 million during the quarter.

Permian Basin Royalty Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were paid a $0.0401 dividend. This is a positive change from Permian Basin Royalty Trust’s previous monthly dividend of $0.01. This represents a c) annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, January 30th. Permian Basin Royalty Trust’s payout ratio is presently 141.18%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PBT. Horizon Kinetics Asset Management LLC lifted its position in shares of Permian Basin Royalty Trust by 41.3% in the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 5,839,825 shares of the oil and gas producer’s stock worth $72,764,000 after purchasing an additional 1,705,498 shares during the period. Bessemer Group Inc. raised its stake in Permian Basin Royalty Trust by 4,701.1% during the second quarter. Bessemer Group Inc. now owns 96,021 shares of the oil and gas producer’s stock worth $1,196,000 after buying an additional 94,021 shares during the last quarter. Moors & Cabot Inc. lifted its holdings in Permian Basin Royalty Trust by 4.5% in the second quarter. Moors & Cabot Inc. now owns 530,208 shares of the oil and gas producer’s stock valued at $6,606,000 after buying an additional 22,915 shares during the period. Atlantic Union Bankshares Corp bought a new stake in Permian Basin Royalty Trust during the second quarter valued at $81,000. Finally, Advisory Services Network LLC grew its holdings in Permian Basin Royalty Trust by 327.9% during the 2nd quarter. Advisory Services Network LLC now owns 246,391 shares of the oil and gas producer’s stock worth $3,299,000 after acquiring an additional 188,807 shares during the period. 28.86% of the stock is owned by institutional investors and hedge funds.

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.