Permian Basin Royalty Trust (NYSE:PBT) Stock Passes Above 200 Day Moving Average - Here's Why

Key Points

• Shares of Permian Basin Royalty Trust crossed above its 200-day moving average of $19.13, trading as high as $22.53 and last at about $22.30 on a volume of 44,712 shares.
• Weiss Ratings cut the trust from a "hold (c-)" to a "sell (d+)" and MarketBeat's aggregated analyst view is currently an average Sell rating.
• The trust raised its monthly dividend to $0.038 per share (annualized yield ~2.0%), up from $0.01, with an ex-dividend date of April 30 and payment on May 14.

Shares of Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $19.13 and traded as high as $22.53. Permian Basin Royalty Trust shares last traded at $22.2980, with a volume of 44,712 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut Permian Basin Royalty Trust from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, March 30th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of "Sell".

Permian Basin Royalty Trust Stock Performance

The firm has a market capitalization of $1.04 billion, a P/E ratio of 69.68 and a beta of 0.41. The firm has a 50 day moving average price of $21.02 and a two-hundred day moving average price of $19.13.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last released its quarterly earnings data on Friday, March 27th. The oil and gas producer reported $0.06 earnings per share for the quarter. The business had revenue of $2.61 million during the quarter. Permian Basin Royalty Trust had a return on equity of 8,774.67% and a net margin of 89.06%.

Permian Basin Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th will be paid a dividend of $0.038 per share. The ex-dividend date of this dividend is Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 2.0%. This is a boost from Permian Basin Royalty Trust's previous monthly dividend of $0.01. Permian Basin Royalty Trust's dividend payout ratio is 53.13%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Several large investors have recently modified their holdings of the stock. SoftVest Advisors LLC boosted its stake in shares of Permian Basin Royalty Trust by 40.1% during the 2nd quarter. SoftVest Advisors LLC now owns 6,206,624 shares of the oil and gas producer's stock worth $77,335,000 after acquiring an additional 1,776,929 shares in the last quarter. Horizon Kinetics Asset Management LLC boosted its stake in shares of Permian Basin Royalty Trust by 1.5% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 6,187,800 shares of the oil and gas producer's stock worth $105,069,000 after acquiring an additional 88,751 shares in the last quarter. Mad River Investors boosted its stake in shares of Permian Basin Royalty Trust by 1.7% during the 1st quarter. Mad River Investors now owns 1,003,140 shares of the oil and gas producer's stock worth $21,588,000 after acquiring an additional 16,321 shares in the last quarter. Moors & Cabot Inc. boosted its stake in shares of Permian Basin Royalty Trust by 10.5% during the 4th quarter. Moors & Cabot Inc. now owns 585,746 shares of the oil and gas producer's stock worth $9,946,000 after acquiring an additional 55,456 shares in the last quarter. Finally, Hosking Partners LLP boosted its stake in shares of Permian Basin Royalty Trust by 12.8% during the 4th quarter. Hosking Partners LLP now owns 346,683 shares of the oil and gas producer's stock worth $5,887,000 after acquiring an additional 39,230 shares in the last quarter. 28.86% of the stock is owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.