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

Permian Basin Royalty Trust (NYSE:PBT) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $13.08 and traded as high as $18.19. Permian Basin Royalty Trust shares last traded at $17.68, with a volume of 159,862 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Permian Basin Royalty Trust in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold”.

Permian Basin Royalty Trust Price Performance

The stock has a market capitalization of $824.06 million, a PE ratio of 49.11 and a beta of 0.63. The firm’s 50 day simple moving average is $16.82 and its 200 day simple moving average is $13.08.

Permian Basin Royalty Trust (NYSE:PBT) last released its earnings results on Wednesday, August 13th. The oil and gas producer reported $0.05 EPS for the quarter. The company had revenue of $3.11 million for the quarter. Permian Basin Royalty Trust had a net margin of 89.90% and a return on equity of 9,737.65%.

Permian Basin Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $0.1155 dividend. This is an increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. This represents a c) annualized dividend and a dividend yield of 7.8%. The ex-dividend date is Tuesday, September 30th. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is presently 386.11%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

Several institutional investors and hedge funds have recently bought and sold shares of PBT. NewEdge Advisors LLC increased its stake in Permian Basin Royalty Trust by 53.1% in 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 during the period. Golden State Wealth Management LLC boosted 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 valued at $48,000 after purchasing an additional 2,446 shares during the period. Access Investment Management LLC purchased a new stake in shares of Permian Basin Royalty Trust during the second quarter valued at approximately $64,000. Sunbelt Securities Inc. grew its holdings in shares of Permian Basin Royalty Trust by 7,352.9% in 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. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of Permian Basin Royalty Trust in the second quarter worth $81,000. 28.86% of the stock is currently owned by institutional investors.

About Permian Basin Royalty Trust

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.