Permian Basin Royalty Trust (NYSE:PBT) Stock Price Crosses Above 200-Day Moving Average - Time to Sell?

Key Points

• The stock price of Permian Basin Royalty Trust (NYSE:PBT) recently surpassed its 200-day moving average of $11.36, reaching a high of $15.80 before closing at $15.09.
• The company announced an increase in its dividend to $0.0153 per share, translating to an impressive dividend yield of 145.0%.
• Institutional ownership for Permian Basin Royalty Trust has strengthened, with notable increases in holdings from several hedge funds, contributing to a total of 28.86% of the stock being held by institutional investors.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.36 and traded as high as $15.80. Permian Basin Royalty Trust shares last traded at $15.09, with a volume of 197,819 shares trading hands.

Permian Basin Royalty Trust Stock Performance

The firm's 50 day moving average price is $13.51 and its two-hundred day moving average price is $11.45. The firm has a market cap of $761.61 million, a PE ratio of 45.40 and a beta of 0.59.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 13th. The oil and gas producer reported $0.05 EPS for the quarter. Permian Basin Royalty Trust had a net margin of 89.90% and a return on equity of 9,737.65%. The business had revenue of $3.11 million during the quarter.

Permian Basin Royalty Trust Increases Dividend

The company also recently announced a dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were issued a $0.0153 dividend. This represents a yield of 145.0%. This is a positive change from Permian Basin Royalty Trust's previous dividend of $0.01. The ex-dividend date of this dividend was Thursday, July 31st. Permian Basin Royalty Trust's dividend payout ratio is 50.00%.

Institutional Trading of Permian Basin Royalty Trust

Several hedge funds have recently added to or reduced their stakes in PBT. JPMorgan Chase & Co. raised its holdings in Permian Basin Royalty Trust by 88.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,782 shares of the oil and gas producer's stock valued at $53,000 after acquiring an additional 2,250 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Permian Basin Royalty Trust by 211.0% during the fourth quarter. Wells Fargo & Company MN now owns 233,493 shares of the oil and gas producer's stock worth $2,587,000 after purchasing an additional 158,403 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Permian Basin Royalty Trust by 28.3% during the fourth quarter. Russell Investments Group Ltd. now owns 12,132 shares of the oil and gas producer's stock worth $134,000 after purchasing an additional 2,679 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Permian Basin Royalty Trust during the fourth quarter worth approximately $622,000. Finally, Beacon Pointe Advisors LLC raised its holdings in Permian Basin Royalty Trust by 42.1% during the fourth quarter. Beacon Pointe Advisors LLC now owns 138,924 shares of the oil and gas producer's stock worth $1,531,000 after purchasing an additional 41,167 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, an express trust, holds royalty interests in various oil and gas properties in the United States. The company holds a 75% net overriding royalty interest in the Waddell Ranch properties, including Dune, Sand Hills (Judkins), Sand Hills (McKnight), Sand Hills (Tubb), University-Waddell (Devonian) and Waddell fields in Crane County, Texas.