Permian Basin Royalty Trust (NYSE:PBT) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

Shares of Permian Basin Royalty Trust (NYSE:PBT) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $13.36 and traded as high as $17.99. Permian Basin Royalty Trust shares last traded at $17.60, with a volume of 154,153 shares.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Permian Basin Royalty Trust in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Permian Basin Royalty Trust presently has a consensus rating of “Hold”.

Permian Basin Royalty Trust Stock Down 1.2%

The company has a market cap of $820.34 million, a price-to-earnings ratio of 48.89 and a beta of 0.63. The company has a fifty day simple moving average of $17.25 and a two-hundred day simple moving average of $13.36.

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

Permian Basin Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $0.1155 dividend. This represents a c) annualized dividend and a yield of 7.9%. This is a positive change from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. The ex-dividend date of this dividend is Tuesday, September 30th. Permian Basin Royalty Trust’s dividend payout ratio is currently 386.11%.

Institutional Trading of Permian Basin Royalty Trust

Large investors have recently bought and sold shares of the company. SoftVest Advisors LLC boosted its stake in shares of Permian Basin Royalty Trust by 40.1% during the second quarter. SoftVest Advisors LLC now owns 6,206,624 shares of the oil and gas producer’s stock valued at $77,335,000 after acquiring an additional 1,776,929 shares during the last quarter. Horizon Kinetics Asset Management LLC boosted its stake in shares of Permian Basin Royalty Trust by 41.3% during the second quarter. Horizon Kinetics Asset Management LLC now owns 5,839,825 shares of the oil and gas producer’s stock valued at $72,764,000 after acquiring an additional 1,705,498 shares during the last quarter. Schwartz Investment Counsel Inc. boosted its stake in shares of Permian Basin Royalty Trust by 7.2% during the first quarter. Schwartz Investment Counsel Inc. now owns 1,486,902 shares of the oil and gas producer’s stock valued at $14,676,000 after acquiring an additional 100,000 shares during the last quarter. Mad River Investors boosted its stake in shares of Permian Basin Royalty Trust by 3.4% during the third quarter. Mad River Investors now owns 922,230 shares of the oil and gas producer’s stock valued at $16,831,000 after acquiring an additional 30,313 shares during the last quarter. Finally, Moors & Cabot Inc. boosted its stake in shares of Permian Basin Royalty Trust by 4.5% during the second quarter. Moors & Cabot Inc. now owns 530,208 shares of the oil and gas producer’s stock valued at $6,606,000 after acquiring an additional 22,915 shares during the last quarter. Institutional investors and hedge funds own 28.86% of the company’s stock.

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.