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 report issued on Thursday.

Permian Basin Royalty Trust Stock Performance

PBT stock traded up $0.07 during trading hours on Thursday, reaching $13.20. The stock had a trading volume of 112,780 shares, compared to its average volume of 130,187. The stock has a 50-day simple moving average of $11.90 and a 200 day simple moving average of $11.66. Permian Basin Royalty Trust has a fifty-two week low of $10.14 and a fifty-two week high of $17.99.

Institutional Trading of Permian Basin Royalty Trust

A number of hedge funds have recently modified their holdings of the stock. EagleClaw Capital Managment LLC increased its position in Permian Basin Royalty Trust by 2.3% during the third quarter. EagleClaw Capital Managment LLC now owns 41,375 shares of the oil and gas producer’s stock worth $492,000 after acquiring an additional 925 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Permian Basin Royalty Trust by 5.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 21,918 shares of the oil and gas producer’s stock worth $247,000 after acquiring an additional 1,150 shares during the period. PFG Investments LLC increased its position in Permian Basin Royalty Trust by 8.1% during the second quarter. PFG Investments LLC now owns 18,666 shares of the oil and gas producer’s stock worth $210,000 after acquiring an additional 1,400 shares during the period. Commonwealth Equity Services LLC increased its position in Permian Basin Royalty Trust by 3.8% during 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 period. Finally, 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. Institutional investors and hedge funds own 28.86% of the company’s stock.

Permian Basin Royalty Trust Company Profile

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.