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

Shares of Permian Basin Royalty Trust (NYSE:PBT) passed above its 200-day moving average during trading on Thursday . The stock has a 200-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 Stock Performance

The stock’s 50 day simple moving average is $17.88 and its 200-day simple moving average is $17.39. The firm has a market cap of $851.80 million, a price-to-earnings ratio of 53.75 and a beta of 0.46.

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

Permian Basin Royalty Trust Increases Dividend

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

Institutional Investors Weigh In On Permian Basin Royalty Trust

A number of institutional investors and hedge funds have recently modified their holdings of PBT. Hosking Partners LLP boosted its position in Permian Basin Royalty Trust by 12.8% in the fourth quarter. Hosking Partners LLP now owns 346,683 shares of the oil and gas producer’s stock valued at $5,887,000 after buying an additional 39,230 shares during the last quarter. Kingswood Wealth Advisors LLC purchased a new stake in shares of Permian Basin Royalty Trust in the 4th quarter valued at $211,000. MOR Wealth Management LLC purchased a new stake in shares of Permian Basin Royalty Trust in the 4th quarter valued at $892,000. Avondale Wealth Management increased its stake in shares of Permian Basin Royalty Trust by 93.3% in the third quarter. Avondale Wealth Management now owns 14,500 shares of the oil and gas producer’s stock worth $265,000 after acquiring an additional 7,000 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of Permian Basin Royalty Trust by 136.7% during the third quarter. Bank of America Corp DE now owns 30,863 shares of the oil and gas producer’s stock worth $563,000 after purchasing an additional 17,826 shares during the last quarter. Institutional investors and hedge funds 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.