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

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 research note issued to investors on Monday.

Permian Basin Royalty Trust Price Performance

PBT stock traded up $0.17 during mid-day trading on Monday, reaching $11.76. 147,476 shares of the company traded hands, compared to its average volume of 209,125. The company has a fifty day moving average price of $12.05 and a 200-day moving average price of $11.60. The company has a market capitalization of $548.13 million, a P/E ratio of 15.08 and a beta of 0.70. Permian Basin Royalty Trust has a 52-week low of $10.14 and a 52-week high of $15.79.

Institutional Trading of Permian Basin Royalty Trust

Several large investors have recently bought and sold shares of PBT. Schwartz Investment Counsel Inc. lifted its position in Permian Basin Royalty Trust by 23.0% during the third 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 buying an additional 262,233 shares during the period. Moors & Cabot Inc. increased its stake 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 valued at $6,363,000 after purchasing an additional 75,064 shares in the last quarter. Mad River Investors boosted its position in shares of Permian Basin Royalty Trust by 4.6% in the 3rd quarter. Mad River Investors now owns 276,382 shares of the oil and gas producer’s stock worth $3,286,000 after purchasing an additional 12,209 shares in the last quarter. BWM Planning LLC purchased a new stake in shares of Permian Basin Royalty Trust in the 3rd quarter worth approximately $1,233,000. Finally, Commonwealth Equity Services LLC increased its position in Permian Basin Royalty Trust by 3.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 75,375 shares of the oil and gas producer’s stock valued at $849,000 after buying an additional 2,761 shares in the last quarter. 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.