Permian Basin Royalty Trust (NYSE:PBT – Get Free Report) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.
Permian Basin Royalty Trust Trading Down 2.0 %
NYSE:PBT opened at $12.05 on Wednesday. Permian Basin Royalty Trust has a one year low of $10.14 and a one year high of $15.92. The stock has a 50-day simple moving average of $12.22 and a 200 day simple moving average of $11.66.
Hedge Funds Weigh In On Permian Basin Royalty Trust
A number of hedge funds have recently bought and sold shares of PBT. Schwartz Investment Counsel Inc. grew its stake in Permian Basin Royalty Trust by 23.0% in the third quarter. Schwartz Investment Counsel Inc. now owns 1,402,402 shares of the oil and gas producer’s stock worth $16,647,000 after purchasing an additional 262,233 shares in the last quarter. BWM Planning LLC acquired a new position in Permian Basin Royalty Trust in the third quarter valued at approximately $1,233,000. Moors & Cabot Inc. boosted its stake in Permian Basin Royalty Trust by 23.3% in the second quarter. Moors & Cabot Inc. now owns 460,087 shares of the oil and gas producer’s stock valued at $5,181,000 after acquiring an additional 87,080 shares during the period. Independent Advisor Alliance acquired a new position in Permian Basin Royalty Trust in the third quarter valued at approximately $837,000. Finally, Atlas Wealth Partners LLC acquired a new position in Permian Basin Royalty Trust in the third quarter valued at approximately $758,000. 28.86% of the stock is currently owned by institutional investors and hedge funds.
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.
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