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

Permian Basin Royalty Trust (NYSE:PBT)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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.

Permian Basin Royalty Trust Price Performance

The stock has a market capitalization of $855.76 million, a P/E ratio of 54.00 and a beta of 0.46. The company’s 50-day simple moving average is $17.89 and its 200-day simple moving average is $17.43.

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

Permian Basin Royalty Trust Increases Dividend

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

Institutional Investors Weigh In On Permian Basin Royalty Trust

A number of institutional investors have recently made changes to their positions in the company. SoftVest Advisors LLC grew its position in shares of Permian Basin Royalty Trust by 40.1% in 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 purchasing an additional 1,776,929 shares during the last quarter. Horizon Kinetics Asset Management LLC lifted its holdings 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 worth $72,764,000 after buying an additional 1,705,498 shares in the last quarter. Mad River Investors boosted its position in shares of Permian Basin Royalty Trust by 7.0% in the fourth quarter. Mad River Investors now owns 986,819 shares of the oil and gas producer’s stock valued at $16,756,000 after acquiring an additional 64,589 shares during the period. Moors & Cabot Inc. grew its stake in shares of Permian Basin Royalty Trust by 4.5% in 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 in the last quarter. Finally, Hosking Partners LLP increased its position in 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 worth $5,887,000 after acquiring 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.