Permian Basin Royalty Trust (NYSE:PBT) Share Price Passes Above 200-Day Moving Average – What’s Next?

Permian Basin Royalty Trust (NYSE:PBT) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $22.29 and traded as high as $26.50. Permian Basin Royalty Trust shares last traded at $26.32, with a volume of 47,436 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Permian Basin Royalty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 21st. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Permian Basin Royalty Trust Trading Up 0.0%

The company has a market capitalization of $1.23 billion, a PE ratio of 82.25 and a beta of 0.48. The stock’s 50-day moving average is $26.99 and its two-hundred day moving average is $22.29.

Permian Basin Royalty Trust (NYSE:PBT) last announced its earnings results on Thursday, May 14th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter. The business had revenue of $3.57 million during the quarter. Permian Basin Royalty Trust had a return on equity of 9,061.81% and a net margin of 88.99%.

Permian Basin Royalty Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.0247 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 1.1%. This is an increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. Permian Basin Royalty Trust’s dividend payout ratio is 93.75%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

Several hedge funds have recently bought and sold shares of the business. MOR Wealth Management LLC purchased a new stake in Permian Basin Royalty Trust in the fourth quarter worth $892,000. Mad River Investors lifted its position in shares of Permian Basin Royalty Trust by 7.0% during the fourth quarter. Mad River Investors now owns 986,819 shares of the oil and gas producer’s stock worth $16,756,000 after purchasing an additional 64,589 shares during the last quarter. Horizon Kinetics Asset Management LLC lifted its position in shares of Permian Basin Royalty Trust by 1.5% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 6,187,800 shares of the oil and gas producer’s stock worth $105,069,000 after purchasing an additional 88,751 shares during the last quarter. Moors & Cabot Inc. boosted its stake in shares of Permian Basin Royalty Trust by 10.5% during the fourth quarter. Moors & Cabot Inc. now owns 585,746 shares of the oil and gas producer’s stock valued at $9,946,000 after purchasing an additional 55,456 shares during the period. Finally, Hosking Partners LLP boosted its stake in shares of Permian Basin Royalty Trust by 12.8% during the fourth quarter. Hosking Partners LLP now owns 346,683 shares of the oil and gas producer’s stock valued at $5,887,000 after purchasing an additional 39,230 shares during the period. 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.