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

Permian Basin Royalty Trust (NYSE:PBT) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $25.54 and traded as high as $34.37. Permian Basin Royalty Trust shares last traded at $33.79, with a volume of 65,475 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Permian Basin Royalty Trust in a report on Tuesday, August 18th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Permian Basin Royalty Trust Price Performance

The firm has a market cap of $1.57 billion, a PE ratio of 96.54 and a beta of 0.48. The stock has a 50 day simple moving average of $29.49 and a 200-day simple moving average of $25.54.

Permian Basin Royalty Trust (NYSE:PBT) last announced its quarterly earnings data on Thursday, August 13th. The oil and gas producer reported $0.08 EPS for the quarter. Permian Basin Royalty Trust had a net margin of 91.96% and a return on equity of 9,990.08%. The company had revenue of $4.18 million for the quarter.

Permian Basin Royalty Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a dividend of $0.0187 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a c) annualized dividend and a dividend yield of 0.7%. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is 148.57%.

Institutional Trading of Permian Basin Royalty Trust

Large investors have recently made changes to their positions in the stock. Kestra Advisory Services LLC bought a new position in Permian Basin Royalty Trust during the fourth quarter valued at approximately $28,000. NewEdge Advisors LLC lifted its position in shares of Permian Basin Royalty Trust by 53.1% during the 2nd 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 in the last quarter. CX Institutional lifted its holdings in Permian Basin Royalty Trust by 80.3% during the second quarter. CX Institutional now owns 2,109 shares of the oil and gas producer’s stock valued at $53,000 after purchasing an additional 939 shares in the last quarter. Bank of America Corp DE boosted 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 worth $162,000 after buying an additional 2,769 shares during the period. Finally, Royal Bank of Canada boosted its stake in shares of Permian Basin Royalty Trust by 6.0% in the fourth quarter. Royal Bank of Canada now owns 9,802 shares of the oil and gas producer’s stock worth $166,000 after acquiring an additional 558 shares during the period. 28.86% of the stock is currently owned by institutional investors.

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.