Permian Basin Royalty Trust (NYSE:PBT) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

Permian Basin Royalty Trust (NYSE:PBT) 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.

Analysts Set New Price Targets

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

Permian Basin Royalty Trust Stock Performance

The business has a 50 day moving average price of $12.21 and a 200-day moving average price of $11.65. The company has a market capitalization of $511.31 million, a price-to-earnings ratio of 14.06 and a beta of 0.66.

Permian Basin Royalty Trust Cuts Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC increased its stake in 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 purchasing an additional 1,150 shares in the last quarter. Schwartz Investment Counsel Inc. grew 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 buying an additional 158,500 shares during the period. Commonwealth Equity Services LLC increased its position in 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 buying an additional 2,761 shares in the last quarter. Mad River Investors raised its stake in Permian Basin Royalty Trust by 4.6% during the 2nd quarter. Mad River Investors now owns 264,173 shares of the oil and gas producer’s stock worth $2,975,000 after buying an additional 11,726 shares during the period. Finally, PFG Investments LLC raised its stake in Permian Basin Royalty Trust by 8.1% during the 2nd quarter. PFG Investments LLC now owns 18,666 shares of the oil and gas producer’s stock worth $210,000 after buying an additional 1,400 shares during the period. Institutional investors and hedge funds own 28.86% of the company’s stock.

About Permian Basin Royalty Trust

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.