Permian Basin Royalty Trust (NYSE:PBT) Raised to Buy at StockNews.com

Permian Basin Royalty Trust (NYSE:PBT) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

Permian Basin Royalty Trust Stock Up 2.3 %

Shares of PBT stock opened at $11.01 on Wednesday. The stock has a market capitalization of $513.18 million, a PE ratio of 14.12 and a beta of 0.70. Permian Basin Royalty Trust has a 52-week low of $10.14 and a 52-week high of $14.58. The stock’s 50-day moving average price is $11.49 and its 200 day moving average price is $11.60.

Permian Basin Royalty Trust (NYSE:PBT) last issued its quarterly earnings results on Tuesday, November 12th. The oil and gas producer reported $0.17 earnings per share (EPS) for the quarter. The firm had revenue of $8.37 million for the quarter. Permian Basin Royalty Trust had a return on equity of 17,811.24% and a net margin of 96.32%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

Several institutional investors have recently added to or reduced their stakes in the stock. EagleClaw Capital Managment LLC boosted 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 valued at $492,000 after purchasing an additional 925 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Permian Basin Royalty Trust by 88.9% in the 4th quarter. JPMorgan Chase & Co. now owns 4,782 shares of the oil and gas producer’s stock valued at $53,000 after purchasing an additional 2,250 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in Permian Basin Royalty Trust in the 4th quarter valued at approximately $27,000. Atlas Wealth Partners LLC boosted its holdings in Permian Basin Royalty Trust by 4.0% in the 4th quarter. Atlas Wealth Partners LLC now owns 66,098 shares of the oil and gas producer’s stock valued at $730,000 after purchasing an additional 2,542 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Permian Basin Royalty Trust by 28.3% in the 4th quarter. Russell Investments Group Ltd. now owns 12,132 shares of the oil and gas producer’s stock valued at $134,000 after purchasing an additional 2,679 shares in the last quarter. Institutional investors and hedge funds 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.