Permian Basin Royalty Trust (NYSE:PBT) Shares Pass Above 200-Day Moving Average – What’s Next?

Permian Basin Royalty Trust (NYSE:PBT) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $18.21 and traded as high as $20.50. Permian Basin Royalty Trust shares last traded at $19.86, with a volume of 122,815 shares changing hands.

Permian Basin Royalty Trust Price Performance

The stock’s 50-day moving average is $18.89 and its two-hundred day moving average is $18.23. The company has a market cap of $966.32 million, a P/E ratio of 60.98 and a beta of 0.43.

Permian Basin Royalty Trust Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be given a $0.0142 dividend. This represents a c) annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, February 27th. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is presently 50.00%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

Institutional investors have recently made changes to their positions in the business. Horizon Kinetics Asset Management LLC boosted its stake in shares of Permian Basin Royalty Trust by 41.3% during the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 5,839,825 shares of the oil and gas producer’s stock worth $72,764,000 after acquiring an additional 1,705,498 shares during the last quarter. Advisory Services Network LLC increased its stake in shares of Permian Basin Royalty Trust by 327.9% in the 2nd quarter. Advisory Services Network LLC now owns 246,391 shares of the oil and gas producer’s stock worth $3,299,000 after purchasing an additional 188,807 shares in the last quarter. Mad River Investors raised its holdings in Permian Basin Royalty Trust by 3.4% in the 3rd quarter. Mad River Investors now owns 922,230 shares of the oil and gas producer’s stock worth $16,831,000 after purchasing an additional 30,313 shares during the period. EagleClaw Capital Managment LLC lifted its position in Permian Basin Royalty Trust by 12.6% during the second quarter. EagleClaw Capital Managment LLC now owns 35,700 shares of the oil and gas producer’s stock valued at $445,000 after purchasing an additional 4,000 shares in the last quarter. Finally, HighTower Advisors LLC lifted its position in Permian Basin Royalty Trust by 75.4% during the third quarter. HighTower Advisors LLC now owns 71,093 shares of the oil and gas producer’s stock valued at $1,298,000 after purchasing an additional 30,556 shares in the last quarter. 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.