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

Shares of Permian Basin Royalty Trust (NYSE:PBT) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $20.41 and traded as high as $29.94. Permian Basin Royalty Trust shares last traded at $27.9530, with a volume of 236,231 shares changing hands.

Analyst Ratings Changes

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

Permian Basin Royalty Trust Stock Performance

The firm has a 50 day moving average of $23.96 and a two-hundred day moving average of $20.48. The stock has a market cap of $1.31 billion, a P/E ratio of 88.02 and a beta of 0.42.

Permian Basin Royalty Trust (NYSE:PBT) last announced its earnings results on Thursday, May 14th. The oil and gas producer reported $0.06 earnings per share 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 Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be paid a dividend of $0.0204 per share. The ex-dividend date is Friday, May 29th. This represents a c) annualized dividend and a yield of 0.9%. Permian Basin Royalty Trust’s dividend payout ratio is presently 143.75%.

Institutional Trading of Permian Basin Royalty Trust

Hedge funds have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC bought a new stake in Permian Basin Royalty Trust during the 4th quarter valued at approximately $28,000. Foster Dykema Cabot & Partners LLC acquired a new position in Permian Basin Royalty Trust in the 3rd quarter valued at approximately $40,000. NewEdge Advisors LLC raised its holdings in Permian Basin Royalty Trust by 53.1% in the 2nd quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer’s stock valued at $47,000 after acquiring an additional 1,304 shares in the last quarter. Atlantic Union Bankshares Corp lifted its position in shares of Permian Basin Royalty Trust by 16.2% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 7,582 shares of the oil and gas producer’s stock worth $138,000 after acquiring an additional 1,058 shares during the period. Finally, Royal Bank of Canada lifted its position in shares of Permian Basin Royalty Trust by 6.0% in the 4th 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. 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.