Permian Basin Royalty Trust (NYSE:PBT) Stock Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Permian Basin Royalty Trust shares rose above their 200-day moving average, reaching $34.30 and last trading at $34.15, compared with a 200-day average of $26.24.
• Analysts remain cautious: Weiss Ratings reiterated a “hold (C-)” rating, and the stock has an overall “Hold” consensus rating.
• The trust reported quarterly revenue of $4.18 million and earnings of $0.08 per share, while declaring a monthly dividend of $0.0187 per share, representing a 0.7% annualized 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 $26.24 and traded as high as $34.30. Permian Basin Royalty Trust shares last traded at $34.15, with a volume of 72,038 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "hold (c-)" rating on shares of Permian Basin Royalty Trust in a research report on Tuesday, August 18th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Permian Basin Royalty Trust presently has an average rating of "Hold".

Permian Basin Royalty Trust Stock Performance

The firm has a market capitalization of $1.59 billion, a P/E ratio of 97.57 and a beta of 0.50. The business has a fifty day moving average of $30.59 and a 200-day moving average of $26.24.

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

Permian Basin Royalty Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a dividend of $0.0187 per share. This represents a c) dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, August 31st. Permian Basin Royalty Trust's payout ratio is currently 62.86%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

Institutional investors and hedge funds have recently bought and sold shares of the stock. Corient Private Wealth LP increased its stake in Permian Basin Royalty Trust by 10.4% during the 2nd quarter. Corient Private Wealth LP now owns 20,865 shares of the oil and gas producer's stock valued at $522,000 after buying an additional 1,974 shares during the period. Post Resch Tallon Group Inc. acquired a new stake in shares of Permian Basin Royalty Trust in the 2nd quarter worth approximately $210,000. CX Institutional lifted its stake in shares of Permian Basin Royalty Trust by 80.3% in the 2nd quarter. CX Institutional now owns 2,109 shares of the oil and gas producer's stock worth $53,000 after acquiring an additional 939 shares during the period. Sei Investments Co. boosted its holdings in shares of Permian Basin Royalty Trust by 116.0% in the first quarter. Sei Investments Co. now owns 422,000 shares of the oil and gas producer's stock valued at $9,081,000 after acquiring an additional 226,600 shares in the last quarter. Finally, Mad River Investors boosted its holdings in shares of Permian Basin Royalty Trust by 1.7% in the first quarter. Mad River Investors now owns 1,003,140 shares of the oil and gas producer's stock valued at $21,588,000 after acquiring an additional 16,321 shares in the last quarter. Institutional investors own 28.86% of the company's stock.

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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