Permian Basin Royalty Trust (NYSE:PBT) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Permian Basin Royalty Trust (NYSE:PBT) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $17.39 and traded as high as $18.74. Permian Basin Royalty Trust shares last traded at $18.2750, with a volume of 34,158 shares traded.

Permian Basin Royalty Trust Stock Performance

The firm has a fifty day moving average of $17.88 and a 200 day moving average of $17.39. The firm has a market capitalization of $851.80 million, a PE ratio of 53.75 and a beta of 0.46.

Permian Basin Royalty Trust (NYSE:PBT) last released its quarterly earnings results on Thursday, November 13th. The oil and gas producer reported $0.15 earnings per share for the quarter. Permian Basin Royalty Trust had a return on equity of 9,354.51% and a net margin of 88.68%.The firm had revenue of $7.27 million during the quarter.

Permian Basin Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be paid a $0.0401 dividend. This represents a c) annualized dividend and a dividend yield of 2.6%. This is a boost from Permian Basin Royalty Trust’s previous monthly dividend of $0.01. The ex-dividend date is Friday, January 30th. Permian Basin Royalty Trust’s payout ratio is currently 141.18%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

A number of institutional investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. purchased a new position in Permian Basin Royalty Trust in the 3rd quarter valued at about $27,000. Foster Dykema Cabot & Partners LLC purchased a new stake in shares of Permian Basin Royalty Trust during the third quarter worth about $40,000. NewEdge Advisors LLC lifted its stake in shares of Permian Basin Royalty Trust by 53.1% in the second quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer’s stock worth $47,000 after acquiring an additional 1,304 shares in the last quarter. Access Investment Management LLC purchased a new position in Permian Basin Royalty Trust in the second quarter valued at about $64,000. Finally, Atlantic Union Bankshares Corp purchased a new position in Permian Basin Royalty Trust in the second quarter valued at about $81,000. Institutional investors and hedge funds own 28.86% of the company’s stock.

About Permian Basin Royalty Trust

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.