Permian Basin Royalty Trust (NYSE:PBT) Shares Pass Above 200 Day Moving Average – Time to Sell?

Permian Basin Royalty Trust (NYSE:PBT) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $21.95 and traded as high as $25.51. Permian Basin Royalty Trust shares last traded at $24.9650, with a volume of 77,531 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Permian Basin Royalty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 21st. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold”.

Permian Basin Royalty Trust Trading Up 0.7%

The firm has a 50-day moving average of $26.61 and a two-hundred day moving average of $21.97. The firm has a market capitalization of $1.16 billion, a P/E ratio of 78.02 and a beta of 0.48.

Permian Basin Royalty Trust (NYSE:PBT) last issued its earnings results on Thursday, May 14th. The oil and gas producer reported $0.06 EPS for the quarter. Permian Basin Royalty Trust had a return on equity of 9,061.81% and a net margin of 88.99%.The firm had revenue of $3.57 million during the quarter.

Permian Basin Royalty Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.0247 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This is a boost from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. Permian Basin Royalty Trust’s payout ratio is presently 90.62%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Kestra Advisory Services LLC acquired a new stake in shares of Permian Basin Royalty Trust during the fourth quarter valued at about $28,000. Foster Dykema Cabot & Partners LLC bought a new stake in shares of Permian Basin Royalty Trust during the third quarter worth about $40,000. NewEdge Advisors LLC increased its stake in shares of 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 valued at $47,000 after buying an additional 1,304 shares during the period. CX Institutional increased its stake in shares of Permian Basin Royalty Trust by 80.3% in the second quarter. CX Institutional now owns 2,109 shares of the oil and gas producer’s stock valued at $53,000 after buying an additional 939 shares during the period. Finally, Bank of America Corp DE raised its holdings in Permian Basin Royalty Trust by 27.0% in the 2nd quarter. Bank of America Corp DE now owns 13,037 shares of the oil and gas producer’s stock valued at $162,000 after buying an additional 2,769 shares during the last quarter. Institutional investors 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.