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

Permian Basin Royalty Trust (NYSE:PBT) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $18.77 and traded as high as $21.91. Permian Basin Royalty Trust shares last traded at $21.6990, with a volume of 191,038 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Permian Basin Royalty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 30th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Permian Basin Royalty Trust currently has a consensus rating of “Sell”.

Permian Basin Royalty Trust Price Performance

The business’s 50 day moving average is $20.16 and its two-hundred day moving average is $18.77. The firm has a market capitalization of $1.01 billion, a PE ratio of 67.81 and a beta of 0.41.

Permian Basin Royalty Trust (NYSE:PBT) last issued its quarterly earnings results on Friday, March 27th. The oil and gas producer reported $0.06 EPS for the quarter. Permian Basin Royalty Trust had a net margin of 89.06% and a return on equity of 8,774.67%. The business had revenue of $2.61 million for the quarter.

Permian Basin Royalty Trust Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.0107 per share. This represents a c) dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Tuesday, March 31st. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is presently 53.13%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PBT. SoftVest Advisors LLC grew its position in Permian Basin Royalty Trust by 40.1% during the second quarter. SoftVest Advisors LLC now owns 6,206,624 shares of the oil and gas producer’s stock valued at $77,335,000 after acquiring an additional 1,776,929 shares during the last quarter. Advisory Services Network LLC grew its position in Permian Basin Royalty Trust by 327.9% during the second quarter. Advisory Services Network LLC now owns 246,391 shares of the oil and gas producer’s stock valued at $3,299,000 after acquiring an additional 188,807 shares during the last quarter. JPMorgan Chase & Co. grew its position in Permian Basin Royalty Trust by 2,233.8% during the second quarter. JPMorgan Chase & Co. now owns 104,298 shares of the oil and gas producer’s stock valued at $1,300,000 after acquiring an additional 99,829 shares during the last quarter. UBS Group AG grew its position in Permian Basin Royalty Trust by 170.1% during the third quarter. UBS Group AG now owns 147,578 shares of the oil and gas producer’s stock valued at $2,693,000 after acquiring an additional 92,936 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC grew its position in Permian Basin Royalty Trust by 1.5% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 6,187,800 shares of the oil and gas producer’s stock valued at $105,069,000 after acquiring an additional 88,751 shares during the last quarter. 28.86% of the stock is currently owned by 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.