Permian Basin Royalty Trust (NYSE:PBT) Stock Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Permian Basin Royalty Trust shares crossed above their 200-day moving average, reaching $34.37 and last trading at $33.79 versus the $25.54 average.
• Weiss Ratings reaffirmed a “Hold (C-)” rating, matching the consensus view from the one analyst covering the stock.
• The Trust reported quarterly EPS of $0.08 on $4.18 million in revenue and declared a monthly dividend of $0.0187 per share; its payout ratio remains elevated at 148.57%.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $25.54 and traded as high as $34.37. Permian Basin Royalty Trust shares last traded at $33.79, with a volume of 65,475 shares traded.

Wall Street Analysts Forecast Growth

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

Permian Basin Royalty Trust Stock Up 0.3%

The business's fifty day moving average is $29.49 and its 200-day moving average is $25.54. The company has a market cap of $1.57 billion, a PE ratio of 96.54 and a beta of 0.48.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last released its quarterly earnings results 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 for the quarter. Permian Basin Royalty Trust had a net margin of 91.96% and a return on equity of 9,990.08%.

Permian Basin Royalty Trust Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a dividend of $0.0187 per share. The ex-dividend date is Monday, August 31st. This represents a c) annualized dividend and a yield of 0.7%. Permian Basin Royalty Trust's payout ratio is 148.57%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Creative Planning raised its stake in Permian Basin Royalty Trust by 14.5% during the 2nd quarter. Creative Planning now owns 14,995 shares of the oil and gas producer's stock worth $187,000 after acquiring an additional 1,903 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Permian Basin Royalty Trust by 2,233.8% in the second quarter. JPMorgan Chase & Co. now owns 104,298 shares of the oil and gas producer's stock worth $1,300,000 after purchasing an additional 99,829 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Permian Basin Royalty Trust in the second quarter worth $188,000. NewEdge Advisors LLC raised its position 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 valued at $47,000 after purchasing an additional 1,304 shares during the period. Finally, Raymond James Financial Inc. lifted its stake in shares of Permian Basin Royalty Trust by 145.1% during the 2nd quarter. Raymond James Financial Inc. now owns 64,466 shares of the oil and gas producer's stock valued at $803,000 after buying an additional 38,164 shares in the last quarter. 28.86% of the stock is owned by hedge funds and other institutional investors.

Permian Basin Royalty Trust Company Profile

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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