Permian Basin Royalty Trust (NYSE:PBT) Stock Price Crosses Above 200 Day Moving Average of $11.79

Permian Basin Royalty Trust (NYSE:PBT) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.79 and traded as high as $11.96. Permian Basin Royalty Trust shares last traded at $11.88, with a volume of 133,665 shares.

Permian Basin Royalty Trust Stock Down 0.3 %

The firm has a 50 day simple moving average of $11.19 and a two-hundred day simple moving average of $11.79. The stock has a market capitalization of $553.71 million, a P/E ratio of 19.16 and a beta of 0.56.

Permian Basin Royalty Trust (NYSE:PBT) last released its earnings results on Thursday, August 8th. The oil and gas producer reported $0.18 earnings per share for the quarter. Permian Basin Royalty Trust had a return on equity of 15,940.96% and a net margin of 96.28%. The firm had revenue of $8.83 million during the quarter.

Permian Basin Royalty Trust Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.0507 per share. This represents a $0.61 annualized dividend and a yield of 5.12%. The ex-dividend date is Monday, September 30th. Permian Basin Royalty Trust’s payout ratio is presently 96.77%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Moors & Cabot Inc. lifted its stake in Permian Basin Royalty Trust by 23.3% during the second quarter. Moors & Cabot Inc. now owns 460,087 shares of the oil and gas producer’s stock worth $5,181,000 after purchasing an additional 87,080 shares during the last quarter. PFG Investments LLC lifted its stake in shares of Permian Basin Royalty Trust by 8.1% in the 2nd quarter. PFG Investments LLC now owns 18,666 shares of the oil and gas producer’s stock valued at $210,000 after acquiring an additional 1,400 shares during the last quarter. Mad River Investors lifted its stake in shares of Permian Basin Royalty Trust by 4.6% in the 2nd quarter. Mad River Investors now owns 264,173 shares of the oil and gas producer’s stock valued at $2,975,000 after acquiring an additional 11,726 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of Permian Basin Royalty Trust by 3.8% in the 2nd 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. Finally, Schwartz Investment Counsel Inc. lifted its stake in shares of 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 last quarter. 28.86% of the stock is currently owned by institutional investors.

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.