Permian Basin Royalty Trust (NYSE:PBT) Shares Cross Above 200 Day Moving Average - Here's Why

Key Points

• Permian Basin Royalty Trust shares rose above their 200-day moving average, reaching $33.71 before closing at $32.84, compared with the moving average of $27.77.
• Weiss Ratings reaffirmed a “hold (c-)” rating, matching the analyst consensus. The trust reported quarterly earnings of $0.08 per share on $4.18 million in revenue.
• The trust increased its monthly dividend to $0.0196 per share, up from $0.0187, equating to an annualized dividend of about $0.24 and a 0.7% yield.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) shares crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $27.77 and traded as high as $33.71. Permian Basin Royalty Trust shares last traded at $32.84, with a volume of 68,147 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "hold (c-)" rating on shares of Permian Basin Royalty Trust in a report on Tuesday, August 18th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of "Hold".

Permian Basin Royalty Trust Trading Down 2.1%

The business has a fifty day moving average of $32.96 and a 200-day moving average of $27.77. The company has a market cap of $1.53 billion, a PE ratio of 93.83 and a beta of 0.50.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The oil and gas producer reported $0.08 earnings per share for the quarter. The business had revenue of $4.18 million during the quarter. Permian Basin Royalty Trust had a return on equity of 9,990.08% and a net margin of 91.96%.

Permian Basin Royalty Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a $0.0196 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This is a positive change from Permian Basin Royalty Trust's previous monthly dividend of $0.0187. This represents a $0.24 dividend on an annualized basis and a yield of 0.7%. Permian Basin Royalty Trust's payout ratio is 62.86%.

Institutional Trading of Permian Basin Royalty Trust

Several large investors have recently added to or reduced their stakes in PBT. Tidal Investments LLC purchased a new stake in Permian Basin Royalty Trust in the second quarter worth about $211,000. Integrated Wealth Concepts LLC purchased a new position in shares of Permian Basin Royalty Trust during the 2nd quarter worth approximately $114,000. NewEdge Advisors LLC grew its holdings in shares of Permian Basin Royalty Trust by 25.1% during the 2nd quarter. NewEdge Advisors LLC now owns 3,493 shares of the oil and gas producer's stock worth $87,000 after acquiring an additional 701 shares during the period. Corient Private Wealth LP raised its position in shares of Permian Basin Royalty Trust by 10.4% in the 2nd quarter. Corient Private Wealth LP now owns 20,865 shares of the oil and gas producer's stock worth $522,000 after acquiring an additional 1,974 shares in the last quarter. Finally, Post Resch Tallon Group Inc. bought a new position in shares of Permian Basin Royalty Trust in the 2nd quarter worth approximately $210,000. Institutional investors own 28.86% of the company's stock.

About Permian Basin Royalty Trust

Permian Basin Royalty Trust is a grantor trust that holds interests in oil and natural gas properties located in the Permian Basin of West Texas. The trust does not operate wells or directly market hydrocarbons; instead, it receives royalty and overriding royalty income from production associated with its underlying properties.

The trust's interests primarily include properties in the Waddell Ranch area of Crane County, Texas, along with other royalty properties in the state. Revenue is derived from the sale of crude oil, natural gas and natural gas liquids produced by the operators of these properties.

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