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

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

Permian Basin Royalty Trust Stock Up 0.5 %

Shares of NYSE:PBT opened at $12.86 on Thursday. Permian Basin Royalty Trust has a fifty-two week low of $10.14 and a fifty-two week high of $19.74. The firm’s 50 day moving average price is $11.61 and its 200 day moving average price is $11.59.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Hedge funds have recently modified their holdings of the stock. Access Investment Management LLC acquired a new stake in shares of Permian Basin Royalty Trust during the 3rd quarter valued at approximately $97,000. International Assets Investment Management LLC boosted 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 last quarter. Prospera Private Wealth LLC acquired a new position in Permian Basin Royalty Trust in the third quarter valued at $110,000. Avondale Wealth Management purchased a new position in shares of Permian Basin Royalty Trust during the 3rd quarter worth about $113,000. Finally, Flow Traders U.S. LLC acquired a new position in shares of Permian Basin Royalty Trust in the 3rd quarter valued at $167,000. 28.86% of the stock is owned by institutional investors and hedge funds.

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.