Permian Basin Royalty Trust (NYSE:PBT) Shares Pass Above 200-Day Moving Average - Here's What Happened

Key Points

• Permian Basin Royalty Trust's stock surpassed its two hundred day moving average, trading as high as $16.27, with a last price of $16.20 and a market capitalization of $754.99 million.
• The company announced an increase in its dividend payout from $0.01 to $0.0153 per share, resulting in a substantial dividend yield of 145.0%.
• Institutional investors have been actively adjusting their positions, with significant investments from firms like Lazard Asset Management and Mad River Investors, highlighting growing interest in the stock.

Shares of Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.16 and traded as high as $16.27. Permian Basin Royalty Trust shares last traded at $16.20, with a volume of 175,063 shares trading hands.

Permian Basin Royalty Trust Trading Down 5.2%

The firm's 50 day moving average is $12.89 and its two-hundred day moving average is $11.23. The stock has a market cap of $725.72 million, a price-to-earnings ratio of 31.76 and a beta of 0.59.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The oil and gas producer reported $0.06 EPS for the quarter. Permian Basin Royalty Trust had a net margin of 93.60% and a return on equity of 12,661.40%. The company had revenue of $3.07 million during the quarter.

Permian Basin Royalty Trust Increases Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, August 14th. Stockholders of record on Friday, August 1st will be paid a dividend of $0.0153 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a dividend yield of 145.0%. This is an increase from Permian Basin Royalty Trust's previous dividend of $0.01. Permian Basin Royalty Trust's dividend payout ratio is currently 36.73%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in shares of Permian Basin Royalty Trust by 88.9% during the 4th 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 during the last quarter. Golden State Wealth Management LLC grew its holdings in shares of Permian Basin Royalty Trust by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 4,892 shares of the oil and gas producer's stock worth $48,000 after purchasing an additional 2,446 shares during the period. Access Investment Management LLC purchased a new stake in shares of Permian Basin Royalty Trust during the 2nd quarter worth about $64,000. Sunbelt Securities Inc. grew its holdings in shares of Permian Basin Royalty Trust by 7,352.9% during the 1st quarter. Sunbelt Securities Inc. now owns 6,335 shares of the oil and gas producer's stock worth $63,000 after purchasing an additional 6,250 shares during the period. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of Permian Basin Royalty Trust during the 2nd quarter worth about $81,000. 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.