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 share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-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 traded.

Analysts Set New Price Targets

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

Permian Basin Royalty Trust Trading Down 2.0 %

The business’s 50 day simple moving average is $12.22 and its 200 day simple moving average is $11.66.

Permian Basin Royalty Trust Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a dividend of $0.0217 per share. This represents a $0.26 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Friday, November 29th. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is presently 33.33%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PBT. Flow Traders U.S. LLC purchased a new stake in shares of Permian Basin Royalty Trust during the 3rd quarter valued at about $167,000. Independent Advisor Alliance bought a new stake in shares of Permian Basin Royalty Trust in the 3rd quarter worth about $837,000. Moors & Cabot Inc. boosted its stake in shares of Permian Basin Royalty Trust by 16.3% during the 3rd quarter. Moors & Cabot Inc. now owns 535,151 shares of the oil and gas producer’s stock worth $6,363,000 after purchasing an additional 75,064 shares during the period. EagleClaw Capital Managment LLC grew its position in Permian Basin Royalty Trust by 2.3% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 41,375 shares of the oil and gas producer’s stock valued at $492,000 after acquiring an additional 925 shares during the last quarter. Finally, Prospera Private Wealth LLC purchased a new stake in Permian Basin Royalty Trust in the 3rd quarter valued at about $110,000. 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.