Permian Basin Royalty Trust (NYSE:PBT) Shares Cross Above Two Hundred Day Moving Average - What's Next?

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.

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 Up 0.6%

The stock has a market capitalization of $763.04 million, a price-to-earnings ratio of 33.41 and a beta of 0.59. The stock's 50 day moving average is $12.68 and its 200 day moving average is $11.16.

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

Permian Basin Royalty Trust Increases Dividend

The business also recently declared a dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 1st will be given a dividend of $0.0153 per share. 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 is Thursday, July 31st. Permian Basin Royalty Trust's dividend payout ratio (DPR) is currently 36.73%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

A number of large investors have recently bought and sold shares of PBT. Atlas Wealth Partners LLC increased its position in shares of Permian Basin Royalty Trust by 1.9% in the first quarter. Atlas Wealth Partners LLC now owns 67,363 shares of the oil and gas producer's stock worth $666,000 after acquiring an additional 1,265 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Permian Basin Royalty Trust by 16.1% during the 4th quarter. Ameriprise Financial Inc. now owns 11,688 shares of the oil and gas producer's stock worth $128,000 after purchasing an additional 1,623 shares during the period. Creative Planning increased its holdings in Permian Basin Royalty Trust by 14.5% in the 2nd quarter. Creative Planning now owns 14,995 shares of the oil and gas producer's stock valued at $187,000 after purchasing an additional 1,903 shares in the last quarter. JPMorgan Chase & Co. raised its position 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 purchasing an additional 2,250 shares during the period. Finally, Golden State Wealth Management LLC boosted its position in shares of Permian Basin Royalty Trust by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 4,892 shares of the oil and gas producer's stock worth $48,000 after buying an additional 2,446 shares during the period. Hedge funds and other institutional investors own 28.86% of the company's stock.

About Permian Basin Royalty Trust

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.