StockNews.com Downgrades Permian Basin Royalty Trust (NYSE:PBT) to Hold

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 Monday.

Permian Basin Royalty Trust Stock Down 0.2 %

Shares of PBT stock opened at $11.70 on Monday. The stock has a 50-day simple moving average of $12.06 and a 200 day simple moving average of $11.60. The stock has a market capitalization of $545.34 million, a P/E ratio of 15.00 and a beta of 0.70. Permian Basin Royalty Trust has a fifty-two week low of $10.14 and a fifty-two week high of $15.79.

Institutional Trading of Permian Basin Royalty Trust

Several hedge funds and other institutional investors have recently modified their holdings of the business. Access Investment Management LLC purchased a new stake in Permian Basin Royalty Trust in the 3rd quarter worth approximately $97,000. International Assets Investment Management LLC grew its stake in 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. Prospera Private Wealth LLC acquired a new position in Permian Basin Royalty Trust in the 3rd quarter worth about $110,000. Avondale Wealth Management purchased a new stake in shares of Permian Basin Royalty Trust during the 3rd quarter worth about $113,000. Finally, Flow Traders U.S. LLC acquired a new stake in shares of Permian Basin Royalty Trust during the 3rd quarter valued at about $167,000. Institutional investors and hedge funds own 28.86% of the company’s stock.

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.