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

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 note issued to investors on Thursday.

Permian Basin Royalty Trust Price Performance

PBT stock traded up $0.07 during mid-day trading on Thursday, hitting $13.20. The stock had a trading volume of 112,780 shares, compared to its average volume of 130,187. Permian Basin Royalty Trust has a 52 week low of $10.14 and a 52 week high of $17.99. The firm has a fifty day simple moving average of $11.90 and a 200 day simple moving average of $11.66.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Schwartz Investment Counsel Inc. grew its holdings in shares of Permian Basin Royalty Trust by 23.0% during the 3rd quarter. Schwartz Investment Counsel Inc. now owns 1,402,402 shares of the oil and gas producer’s stock valued at $16,647,000 after purchasing an additional 262,233 shares during the last quarter. Moors & Cabot Inc. boosted its position in Permian Basin Royalty Trust by 16.3% during the 3rd 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. Mad River Investors boosted its position in Permian Basin Royalty Trust by 4.6% during the 3rd quarter. Mad River Investors now owns 276,382 shares of the oil and gas producer’s stock worth $3,286,000 after buying an additional 12,209 shares during the period. OFI Invest Asset Management acquired a new stake in Permian Basin Royalty Trust during the 2nd quarter worth approximately $1,303,000. Finally, BWM Planning LLC acquired a new stake in Permian Basin Royalty Trust during the 3rd quarter worth approximately $1,233,000. 28.86% of the stock is 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.