Permian Basin Royalty Trust (NYSE:PBT) Lowered to Hold Rating by StockNews.com

Permian Basin Royalty Trust (NYSE:PBT) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

Permian Basin Royalty Trust Stock Performance

Shares of NYSE:PBT opened at $13.52 on Thursday. The company has a market capitalization of $630.17 million, a PE ratio of 17.33 and a beta of 0.59. The stock has a fifty day moving average of $11.93 and a 200-day moving average of $11.67. Permian Basin Royalty Trust has a one year low of $10.14 and a one year high of $17.39.

Institutional Trading of Permian Basin Royalty Trust

Several institutional investors and hedge funds have recently bought and sold shares of PBT. EagleClaw Capital Managment LLC increased its position in shares of Permian Basin Royalty Trust by 2.3% in the third quarter. EagleClaw Capital Managment LLC now owns 41,375 shares of the oil and gas producer’s stock worth $492,000 after acquiring an additional 925 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Permian Basin Royalty Trust by 5.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 21,918 shares of the oil and gas producer’s stock worth $247,000 after purchasing an additional 1,150 shares during the period. PFG Investments LLC grew its position 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 purchasing an additional 1,400 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in Permian Basin Royalty Trust by 3.8% during 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 purchasing an additional 2,761 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in shares of Permian Basin Royalty Trust by 1,089.0% in the third quarter. International Assets Investment Management LLC now owns 8,323 shares of the oil and gas producer’s stock valued at $99,000 after purchasing an additional 7,623 shares in the last quarter. 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.