Permian Basin Royalty Trust (NYSE:PBT) Shares Pass Above Two Hundred Day Moving Average - Time to Sell?

Shares of Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $11.00 and traded as high as $11.42. Permian Basin Royalty Trust shares last traded at $11.34, with a volume of 67,438 shares traded.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Permian Basin Royalty Trust from a "buy" rating to a "hold" rating in a research report on Thursday, February 20th.

Permian Basin Royalty Trust Price Performance

The firm has a market cap of $518.29 million, a price-to-earnings ratio of 14.26 and a beta of 0.56. The company has a fifty day moving average price of $10.08 and a two-hundred day moving average price of $10.99.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last announced its earnings results on Wednesday, May 14th. The oil and gas producer reported $0.06 EPS for the quarter. The business had revenue of $3.07 million during the quarter. Permian Basin Royalty Trust had a return on equity of 17,811.24% and a net margin of 96.32%.

Permian Basin Royalty Trust Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be given a $0.0188 dividend. This represents a yield of 2.01%. The ex-dividend date of this dividend is Friday, May 30th. Permian Basin Royalty Trust's payout ratio is currently 44.90%.

Institutional Trading of Permian Basin Royalty Trust

Several large investors have recently made changes to their positions in PBT. Horizon Kinetics Asset Management LLC boosted its stake in shares of Permian Basin Royalty Trust by 7.1% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 3,946,083 shares of the oil and gas producer's stock worth $43,723,000 after acquiring an additional 261,819 shares in the last quarter. Mad River Investors lifted its position in shares of Permian Basin Royalty Trust by 91.5% in the 1st quarter. Mad River Investors now owns 471,693 shares of the oil and gas producer's stock worth $4,674,000 after acquiring an additional 225,400 shares during the period. Wells Fargo & Company MN lifted its position in shares of Permian Basin Royalty Trust by 211.0% in the 4th quarter. Wells Fargo & Company MN now owns 233,493 shares of the oil and gas producer's stock worth $2,587,000 after acquiring an additional 158,403 shares during the period. OFI Invest Asset Management bought a new stake in shares of Permian Basin Royalty Trust in the 4th quarter worth approximately $1,327,000. Finally, Commonwealth Equity Services LLC lifted its position in shares of Permian Basin Royalty Trust by 87.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 220,527 shares of the oil and gas producer's stock worth $2,443,000 after acquiring an additional 102,568 shares during the period. Institutional investors 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.