Permian Basin Royalty Trust (NYSE:PBT – Get Free Report) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
Permian Basin Royalty Trust Trading Down 4.7 %
PBT stock opened at $12.28 on Tuesday. Permian Basin Royalty Trust has a 1-year low of $10.14 and a 1-year high of $15.92. The firm has a fifty day moving average price of $12.13 and a two-hundred day moving average price of $11.65.
Institutional Trading of Permian Basin Royalty Trust
Hedge funds have recently made changes to their positions in the stock. Flow Traders U.S. LLC bought a new stake in Permian Basin Royalty Trust in the 3rd quarter valued at about $167,000. Independent Advisor Alliance bought a new stake in shares of Permian Basin Royalty Trust during the third quarter valued at approximately $837,000. Moors & Cabot Inc. boosted its position in shares of Permian Basin Royalty Trust by 16.3% during the third quarter. Moors & Cabot Inc. now owns 535,151 shares of the oil and gas producer’s stock worth $6,363,000 after buying an additional 75,064 shares during the period. EagleClaw Capital Managment LLC grew its holdings in Permian Basin Royalty Trust by 2.3% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 41,375 shares of the oil and gas producer’s stock worth $492,000 after buying an additional 925 shares in the last quarter. Finally, Prospera Private Wealth LLC acquired a new stake in Permian Basin Royalty Trust in the 3rd quarter valued at approximately $110,000. Institutional investors 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.
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