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

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

Permian Basin Royalty Trust Trading Up 1.5 %

PBT stock traded up $0.17 during midday trading on Monday, hitting $11.76. The company’s stock had a trading volume of 147,476 shares, compared to its average volume of 209,125. The company has a market cap of $548.13 million, a PE ratio of 15.08 and a beta of 0.70. The firm’s 50-day moving average is $12.05 and its 200-day moving average is $11.60. Permian Basin Royalty Trust has a 12 month low of $10.14 and a 12 month high of $15.79.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PBT. Access Investment Management LLC bought a new stake in Permian Basin Royalty Trust in the 3rd quarter worth approximately $97,000. 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 valued at $99,000 after acquiring an additional 7,623 shares during the last quarter. Prospera Private Wealth LLC bought a new position in Permian Basin Royalty Trust in the third quarter valued at about $110,000. Avondale Wealth Management bought a new position in Permian Basin Royalty Trust in the third quarter valued at about $113,000. Finally, Flow Traders U.S. LLC purchased a new position in Permian Basin Royalty Trust in the third quarter worth about $167,000. 28.86% of the stock is owned by hedge funds and other 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.