Permian Basin Royalty Trust (NYSE:PBT) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Shares of Permian Basin Royalty Trust (NYSE:PBT) crossed 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.

Permian Basin Royalty Trust Stock Performance

The company has a market capitalization of $851.80 million, a PE ratio of 53.75 and a beta of 0.46. The company has a 50 day moving average price of $17.88 and a 200 day moving average price of $17.39.

Permian Basin Royalty Trust (NYSE:PBT) last posted its quarterly earnings results on Thursday, November 13th. The oil and gas producer reported $0.15 earnings per share (EPS) 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 business also recently declared a monthly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be given a dividend of $0.0401 per share. The ex-dividend date of this dividend is Friday, January 30th. This is a positive change from Permian Basin Royalty Trust’s previous monthly dividend of $0.01. This represents a c) annualized dividend and a dividend yield of 2.6%. Permian Basin Royalty Trust’s dividend payout ratio is 141.18%.

Institutional Trading of Permian Basin Royalty Trust

Hedge funds and other institutional investors have recently bought and sold shares of the company. Geneos Wealth Management Inc. acquired a new stake in Permian Basin Royalty Trust during the third quarter valued at approximately $27,000. Foster Dykema Cabot & Partners LLC bought a new stake in shares of Permian Basin Royalty Trust in the 3rd quarter valued at approximately $40,000. NewEdge Advisors LLC increased its holdings in shares of 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 during the last quarter. Access Investment Management LLC acquired a new stake in shares of Permian Basin Royalty Trust during the 2nd quarter valued at approximately $64,000. Finally, Atlantic Union Bankshares Corp bought a new position in Permian Basin Royalty Trust during the second quarter worth $81,000. 28.86% of the stock is 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.