Permian Basin Royalty Trust (NYSE:PBT) Stock Passes Above 200 Day Moving Average - Time to Sell?

Key Points

• Permian Basin Royalty Trust (NYSE:PBT) moved above its 200-day moving average, trading as high as $26.50 and last changing hands at $26.32, a technical signal that may catch traders’ attention.
• Weiss Ratings upgraded the stock from “sell” to “hold,” and MarketBeat notes the consensus rating is now “Hold.”
• The trust also raised its monthly dividend to $0.0247 per share from $0.02, payable July 15, though its payout ratio remains high at 93.75%.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $22.29 and traded as high as $26.50. Permian Basin Royalty Trust shares last traded at $26.32, with a volume of 47,436 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Permian Basin Royalty Trust from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, May 21st. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of "Hold".

Permian Basin Royalty Trust Stock Up 0.0%

The firm's fifty day moving average price is $26.99 and its 200 day moving average price is $22.29. The stock has a market cap of $1.23 billion, a PE ratio of 82.25 and a beta of 0.48.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last posted its earnings results on Thursday, May 14th. The oil and gas producer reported $0.06 earnings per share for the quarter. Permian Basin Royalty Trust had a net margin of 88.99% and a return on equity of 9,061.81%. The company had revenue of $3.57 million during the quarter.

Permian Basin Royalty Trust Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.0247 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 1.1%. This is a boost from Permian Basin Royalty Trust's previous monthly dividend of $0.02. The ex-dividend date of this dividend is Tuesday, June 30th. Permian Basin Royalty Trust's payout ratio is 93.75%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

Several institutional investors have recently bought and sold shares of the business. MOR Wealth Management LLC bought a new stake in shares of Permian Basin Royalty Trust in the 4th quarter worth about $892,000. Mad River Investors lifted its holdings in shares of Permian Basin Royalty Trust by 7.0% in the 4th quarter. Mad River Investors now owns 986,819 shares of the oil and gas producer's stock valued at $16,756,000 after acquiring an additional 64,589 shares during the last quarter. Horizon Kinetics Asset Management LLC raised its position in Permian Basin Royalty Trust by 1.5% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 6,187,800 shares of the oil and gas producer's stock valued at $105,069,000 after purchasing an additional 88,751 shares during the period. Moors & Cabot Inc. raised its position in Permian Basin Royalty Trust by 10.5% during the fourth quarter. Moors & Cabot Inc. now owns 585,746 shares of the oil and gas producer's stock valued at $9,946,000 after purchasing an additional 55,456 shares during the period. Finally, Hosking Partners LLP lifted its stake in shares of Permian Basin Royalty Trust by 12.8% in the 4th quarter. Hosking Partners LLP now owns 346,683 shares of the oil and gas producer's stock valued at $5,887,000 after purchasing an additional 39,230 shares during the last quarter. Institutional investors own 28.86% of the company's stock.

About Permian Basin Royalty Trust

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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