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

Permian Basin Royalty Trust (NYSE:PBT) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $11.66 and traded as high as $12.44. Permian Basin Royalty Trust shares last traded at $12.05, with a volume of 198,457 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Permian Basin Royalty Trust from a “hold” rating to a “buy” rating in a report on Wednesday.

Permian Basin Royalty Trust Price Performance

The business’s fifty day moving average price is $12.21 and its 200 day moving average price is $11.65. The stock has a market cap of $511.31 million, a P/E ratio of 14.06 and a beta of 0.66.

Permian Basin Royalty Trust Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a $0.0217 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.26 dividend on an annualized basis and a yield of 2.37%. Permian Basin Royalty Trust’s dividend payout ratio is currently 33.33%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PBT. Wealth Enhancement Advisory Services LLC increased its stake in shares of Permian Basin Royalty Trust by 5.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 21,918 shares of the oil and gas producer’s stock valued at $247,000 after buying an additional 1,150 shares during the period. Schwartz Investment Counsel Inc. increased its position in Permian Basin Royalty Trust by 16.1% in the 2nd quarter. Schwartz Investment Counsel Inc. now owns 1,140,169 shares of the oil and gas producer’s stock valued at $12,793,000 after acquiring an additional 158,500 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of Permian Basin Royalty Trust by 3.8% during the second quarter. Commonwealth Equity Services LLC now owns 75,375 shares of the oil and gas producer’s stock valued at $849,000 after acquiring an additional 2,761 shares during the last quarter. Mad River Investors lifted its holdings in shares of Permian Basin Royalty Trust by 4.6% during the second quarter. Mad River Investors now owns 264,173 shares of the oil and gas producer’s stock worth $2,975,000 after purchasing an additional 11,726 shares during the period. Finally, PFG Investments LLC grew its stake in shares of Permian Basin Royalty Trust by 8.1% in the second quarter. PFG Investments LLC now owns 18,666 shares of the oil and gas producer’s stock worth $210,000 after purchasing an additional 1,400 shares during the last quarter. 28.86% of the stock is currently owned by institutional investors and hedge funds.

Permian Basin Royalty Trust Company Profile

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.