Permian Basin Royalty Trust (NYSE:PBT) Shares Pass Above 200-Day Moving Average – Should You Sell?

Permian Basin Royalty Trust (NYSE:PBT) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $17.39 and traded as high as $18.74. Permian Basin Royalty Trust shares last traded at $18.2750, with a volume of 34,158 shares traded.

Permian Basin Royalty Trust Price Performance

The company has a market cap of $851.80 million, a P/E ratio of 53.75 and a beta of 0.46. The business has a 50-day moving average of $17.88 and a two-hundred day moving average of $17.39.

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

Permian Basin Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 30th will be paid a $0.0401 dividend. This represents a c) annualized dividend and a yield of 2.6%. This is a positive change from Permian Basin Royalty Trust’s previous monthly dividend of $0.01. The ex-dividend date is Friday, January 30th. Permian Basin Royalty Trust’s payout ratio is 141.18%.

Institutional Trading of Permian Basin Royalty Trust

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

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.