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

Key Points

• Permian Basin Royalty Trust shares crossed above their 200-day moving average, trading as high as $33.60 and last changing hands at $32.90, versus a 200-day average of $24.20.
• Weiss Ratings upgraded the stock from “sell (D+)” to “hold (C-),” while the sole tracked analyst also rates it Hold. The trust reported quarterly EPS of $0.06 on $3.57 million in revenue.
• The trust increased its monthly dividend to $0.0436 per share, implying a 1.6% yield, although its dividend payout ratio is elevated at 162.5%; institutional investors own 28.86% of the shares.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $24.20 and traded as high as $33.60. Permian Basin Royalty Trust shares last traded at $32.90, with a volume of 86,770 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of 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 data from MarketBeat.com, the company currently has an average rating of "Hold".

Permian Basin Royalty Trust Price Performance

The stock has a 50-day simple moving average of $27.90 and a 200 day simple moving average of $24.20. The company has a market capitalization of $1.53 billion, a PE ratio of 102.81 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 return on equity of 9,061.81% and a net margin of 88.99%.The company had revenue of $3.57 million for the quarter.

Permian Basin Royalty Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be paid a $0.0436 dividend. This represents a c) dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, July 31st. This is a positive change from Permian Basin Royalty Trust's previous monthly dividend of $0.02. Permian Basin Royalty Trust's dividend payout ratio is currently 162.50%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC purchased a new stake in shares of Permian Basin Royalty Trust in the fourth quarter valued at about $28,000. NewEdge Advisors LLC increased its stake in shares of Permian Basin Royalty Trust by 53.1% during the 2nd 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 in the last quarter. CX Institutional raised its position in shares of Permian Basin Royalty Trust by 80.3% during the 2nd quarter. CX Institutional now owns 2,109 shares of the oil and gas producer's stock worth $53,000 after purchasing an additional 939 shares during the last quarter. Bank of America Corp DE raised its position in shares of Permian Basin Royalty Trust by 27.0% during the 2nd quarter. Bank of America Corp DE now owns 13,037 shares of the oil and gas producer's stock worth $162,000 after purchasing an additional 2,769 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in Permian Basin Royalty Trust by 6.0% in the 4th quarter. Royal Bank of Canada now owns 9,802 shares of the oil and gas producer's stock valued at $166,000 after buying an additional 558 shares in the last quarter. Institutional investors and hedge funds 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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