Permian Basin Royalty Trust (NYSE:PBT) Downgraded by StockNews.com to “Hold”

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

Permian Basin Royalty Trust Stock Down 0.2 %

Shares of Permian Basin Royalty Trust stock opened at $11.70 on Monday. Permian Basin Royalty Trust has a 12-month low of $10.14 and a 12-month high of $15.79. The stock has a 50 day moving average price of $12.06 and a two-hundred day moving average price 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.

Institutional Investors Weigh In On Permian Basin Royalty Trust

A number of hedge funds have recently bought and sold shares of the company. EagleClaw Capital Managment LLC boosted its stake in Permian Basin Royalty Trust by 2.3% during 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 purchasing an additional 925 shares during the period. PFG Investments LLC boosted its position in shares of Permian Basin Royalty Trust by 8.1% in the second quarter. PFG Investments LLC now owns 18,666 shares of the oil and gas producer’s stock valued at $210,000 after acquiring an additional 1,400 shares during the period. Commonwealth Equity Services LLC grew its stake in shares of Permian Basin Royalty Trust by 3.8% in the second quarter. Commonwealth Equity Services LLC now owns 75,375 shares of the oil and gas producer’s stock worth $849,000 after acquiring an additional 2,761 shares during the last quarter. International Assets Investment Management LLC increased its position in Permian Basin Royalty Trust by 1,089.0% during the third quarter. International Assets Investment Management LLC now owns 8,323 shares of the oil and gas producer’s stock worth $99,000 after acquiring an additional 7,623 shares during the period. Finally, Access Investment Management LLC acquired a new position in Permian Basin Royalty Trust during the 3rd quarter valued at $97,000. 28.86% of the stock is currently owned by institutional investors.

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.