Permian Basin Royalty Trust (NYSE:PBT) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

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 $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 changing hands.

Wall Street Analysts Forecast Growth

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 Stock Down 0.7%

The company has a 50 day moving average of $10.62 and a 200 day moving average of $10.83. The firm has a market cap of $558.62 million, a price-to-earnings ratio of 24.46 and a beta of 0.56.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last released its earnings results on Wednesday, May 14th. The oil and gas producer reported $0.06 EPS for the quarter. The company 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 issued a dividend of $0.0188 per share. This represents a yield of 2.01%. The ex-dividend date of this dividend was Friday, May 30th. Permian Basin Royalty Trust's dividend payout ratio is currently 46.94%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Golden State Wealth Management LLC grew its stake in Permian Basin Royalty Trust by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 4,892 shares of the oil and gas producer's stock worth $48,000 after purchasing an additional 2,446 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Permian Basin Royalty Trust by 88.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,782 shares of the oil and gas producer's stock worth $53,000 after buying an additional 2,250 shares during the last quarter. Sunbelt Securities Inc. grew its position in shares of Permian Basin Royalty Trust by 7,352.9% in the 1st quarter. Sunbelt Securities Inc. now owns 6,335 shares of the oil and gas producer's stock worth $63,000 after acquiring an additional 6,250 shares in the last quarter. Atria Wealth Solutions Inc. bought a new stake in shares of Permian Basin Royalty Trust in the 4th quarter valued at approximately $127,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of Permian Basin Royalty Trust by 16.1% in the 4th quarter. Ameriprise Financial Inc. now owns 11,688 shares of the oil and gas producer's stock valued at $128,000 after acquiring an additional 1,623 shares during the last quarter. 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.