Permian Basin Royalty Trust (NYSE:PBT) Share Price Passes Above 200-Day Moving Average - Should You Sell?

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $10.82 and traded as high as $12.13. Permian Basin Royalty Trust shares last traded at $11.83, with a volume of 240,477 shares trading hands.

Analyst Upgrades and Downgrades

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

Permian Basin Royalty Trust Price Performance

The stock has a 50 day simple moving average of $10.51 and a 200-day simple moving average of $10.83. The firm has a market cap of $563.05 million, a PE ratio of 24.65 and a beta of 0.56.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The oil and gas producer reported $0.06 earnings per share (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 12,661.40% and a net margin of 93.60%.

Permian Basin Royalty Trust Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.0188 per share. This represents a yield of 2.01%. The ex-dividend date was Friday, May 30th. Permian Basin Royalty Trust's payout ratio is 46.94%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Horizon Kinetics Asset Management LLC raised its stake in Permian Basin Royalty Trust by 7.1% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 3,946,083 shares of the oil and gas producer's stock valued at $43,723,000 after buying an additional 261,819 shares during the last quarter. Schwartz Investment Counsel Inc. raised its stake in shares of Permian Basin Royalty Trust by 7.2% in the first quarter. Schwartz Investment Counsel Inc. now owns 1,486,902 shares of the oil and gas producer's stock worth $14,676,000 after purchasing an additional 100,000 shares during the last quarter. Moors & Cabot Inc. raised its stake in shares of Permian Basin Royalty Trust by 11.0% in the fourth quarter. Moors & Cabot Inc. now owns 594,221 shares of the oil and gas producer's stock worth $6,584,000 after purchasing an additional 59,070 shares during the last quarter. Mad River Investors raised its stake in shares of Permian Basin Royalty Trust by 91.5% in the first quarter. Mad River Investors now owns 471,693 shares of the oil and gas producer's stock worth $4,674,000 after purchasing an additional 225,400 shares during the last quarter. Finally, Hosking Partners LLP raised its stake in shares of Permian Basin Royalty Trust by 28.3% in the fourth quarter. Hosking Partners LLP now owns 307,551 shares of the oil and gas producer's stock worth $3,408,000 after purchasing an additional 67,858 shares during the last quarter. 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.