Permian Basin Royalty Trust (NYSE:PBT) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Permian Basin Royalty Trust (NYSE:PBT)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $24.20 and traded as high as $33.60. Permian Basin Royalty Trust shares last traded at $32.90, with a volume of 86,770 shares trading hands.

Analysts Set New Price Targets

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

Permian Basin Royalty Trust Trading Down 1.0%

The company has a market capitalization of $1.54 billion, a P/E ratio of 103.39 and a beta of 0.48. The stock has a 50 day moving average price of $27.98 and a 200 day moving average price of $24.30.

Permian Basin Royalty Trust (NYSE:PBT) last issued its quarterly earnings data on Thursday, August 13th. The oil and gas producer reported $0.08 earnings per share (EPS) for the quarter. Permian Basin Royalty Trust had a net margin of 88.99% and a return on equity of 9,061.81%.

Permian Basin Royalty Trust Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a $0.0436 dividend. The ex-dividend date is Friday, July 31st. This is an increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. This represents a c) dividend on an annualized basis and a yield of 1.6%. Permian Basin Royalty Trust’s dividend payout ratio is presently 162.50%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

Several institutional investors have recently made changes to their positions in the stock. Mad River Investors boosted its position in Permian Basin Royalty Trust by 7.0% during the fourth quarter. Mad River Investors now owns 986,819 shares of the oil and gas producer’s stock worth $16,756,000 after purchasing an additional 64,589 shares during the period. Sei Investments Co. increased its stake in shares of Permian Basin Royalty Trust by 116.0% in the first quarter. Sei Investments Co. now owns 422,000 shares of the oil and gas producer’s stock worth $9,081,000 after purchasing an additional 226,600 shares in the last quarter. Horizon Kinetics Asset Management LLC raised its position in shares of Permian Basin Royalty Trust by 1.5% in 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 purchasing an additional 88,751 shares during the period. Moors & Cabot Inc. raised its position in shares of Permian Basin Royalty Trust by 10.5% in the fourth quarter. Moors & Cabot Inc. now owns 585,746 shares of the oil and gas producer’s stock valued at $9,946,000 after purchasing an additional 55,456 shares during the period. Finally, Hosking Partners LLP lifted its stake in shares of Permian Basin Royalty Trust by 12.8% during the 4th 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 in 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.