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

Key Points

• Permian Basin Royalty Trust's stock price has surpassed its 200-day moving average of $13.36, trading as high as $17.99, with the latest price being $17.60.
• The trust recently announced an increase in its monthly dividend to $0.1155 per share, boosting the annual dividend yield to 7.9%.
• Weiss Ratings has maintained a "hold (c-)" rating for the stock, indicating a cautious stance as one analyst suggests a consensus rating of "Hold."

Shares of Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.36 and traded as high as $17.99. Permian Basin Royalty Trust shares last traded at $17.60, with a volume of 154,153 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "hold (c-)" rating on shares of Permian Basin Royalty Trust in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of "Hold".

Permian Basin Royalty Trust Price Performance

The stock has a 50 day simple moving average of $17.25 and a two-hundred day simple moving average of $13.36. The company has a market cap of $820.34 million, a PE ratio of 48.89 and a beta of 0.63.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The oil and gas producer reported $0.05 earnings per share for the quarter. Permian Basin Royalty Trust had a return on equity of 9,737.65% and a net margin of 89.90%.The company had revenue of $3.11 million during the quarter.

Permian Basin Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.1155 per share. This represents a c) annualized dividend and a dividend yield of 7.9%. This is a boost from Permian Basin Royalty Trust's previous monthly dividend of $0.02. The ex-dividend date is Tuesday, September 30th. Permian Basin Royalty Trust's dividend payout ratio (DPR) is currently 386.11%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Large investors have recently modified their holdings of the stock. NewEdge Advisors LLC raised its stake in shares of Permian Basin Royalty Trust by 53.1% during the second 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 during the last quarter. Golden State Wealth Management LLC raised its stake in shares of Permian Basin Royalty Trust by 100.0% during 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 during the last quarter. Sunbelt Securities Inc. raised its stake in shares of Permian Basin Royalty Trust by 7,352.9% during the first quarter. Sunbelt Securities Inc. now owns 6,335 shares of the oil and gas producer's stock worth $63,000 after purchasing an additional 6,250 shares during the last quarter. Access Investment Management LLC acquired a new position in Permian Basin Royalty Trust during the second quarter worth $64,000. Finally, Atlantic Union Bankshares Corp acquired a new position in Permian Basin Royalty Trust during the second quarter worth $81,000. Hedge funds and other 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.

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