Permian Basin Royalty Trust (NYSE:PBT) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Permian Basin Royalty Trust (NYSE:PBT)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $26.24 and traded as high as $34.30. Permian Basin Royalty Trust shares last traded at $34.15, with a volume of 72,038 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Permian Basin Royalty Trust in a research note on Tuesday, August 18th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Permian Basin Royalty Trust Stock Down 0.1%

The stock has a market capitalization of $1.59 billion, a P/E ratio of 97.57 and a beta of 0.50. The firm’s 50-day simple moving average is $30.59 and its 200 day simple moving average is $26.24.

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

Permian Basin Royalty Trust Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a dividend of $0.0187 per share. This represents a c) dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, August 31st. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is presently 62.86%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PBT. Corient Private Wealth LP lifted its position in shares of Permian Basin Royalty Trust by 10.4% during the 2nd quarter. Corient Private Wealth LP now owns 20,865 shares of the oil and gas producer’s stock valued at $522,000 after acquiring an additional 1,974 shares during the last quarter. Post Resch Tallon Group Inc. bought a new stake in shares of Permian Basin Royalty Trust during the 2nd quarter worth $210,000. CX Institutional grew its holdings in shares of Permian Basin Royalty Trust by 80.3% in the 2nd quarter. CX Institutional now owns 2,109 shares of the oil and gas producer’s stock worth $53,000 after acquiring an additional 939 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Permian Basin Royalty Trust by 116.0% in the 1st quarter. Sei Investments Co. now owns 422,000 shares of the oil and gas producer’s stock worth $9,081,000 after acquiring an additional 226,600 shares during the last quarter. Finally, Mad River Investors raised its position in shares of Permian Basin Royalty Trust by 1.7% during the first quarter. Mad River Investors now owns 1,003,140 shares of the oil and gas producer’s stock worth $21,588,000 after purchasing an additional 16,321 shares during the period. 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.