Permian Basin Royalty Trust (NYSE:PBT) Stock Crosses Above 200 Day Moving Average - What's Next?

Key Points

• Technical breakout: Shares of Permian Basin Royalty Trust (NYSE:PBT) crossed above its 200‑day moving average of $18.21, trading as high as $20.50 and last at $19.86 on volume of 122,815 shares.
• Dividend update: The trust announced a monthly dividend of $0.0142 per share (ex‑dividend Feb 27; paid Mar 13), implying an annualized yield of about 0.9% and a payout ratio of 50%.
• Company profile and ownership: PBT is a passive royalty trust with a market cap near $925.7M and a P/E of 58.4, and roughly 28.9% of the stock is held by hedge funds and other institutional investors after several recent small purchases.

Shares of Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) 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.

Permian Basin Royalty Trust Stock Performance

The company has a market capitalization of $925.65 million, a P/E ratio of 58.41 and a beta of 0.43. The firm's fifty day moving average is $18.82 and its 200 day moving average is $18.21.

Permian Basin Royalty Trust Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be paid a dividend of $0.0142 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a c) dividend on an annualized basis and a dividend yield of 0.9%. Permian Basin Royalty Trust's dividend payout ratio is currently 50.00%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Several hedge funds and other institutional investors have recently modified their holdings of PBT. Geneos Wealth Management Inc. purchased a new position in Permian Basin Royalty Trust during the 3rd quarter valued at $27,000. Kestra Advisory Services LLC purchased a new stake in Permian Basin Royalty Trust in the fourth quarter worth $28,000. Foster Dykema Cabot & Partners LLC purchased a new stake in Permian Basin Royalty Trust in the third quarter worth $40,000. NewEdge Advisors LLC lifted its position in shares of Permian Basin Royalty Trust by 53.1% during the second quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer's stock worth $47,000 after purchasing an additional 1,304 shares during the last quarter. Finally, Atlantic Union Bankshares Corp bought a new stake in shares of Permian Basin Royalty Trust during the second quarter worth $81,000. 28.86% of the stock is currently owned by hedge funds and other institutional investors.

Permian Basin Royalty Trust Company Profile

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.

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