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

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

Permian Basin Royalty Trust Price Performance

Shares of NYSE PBT opened at $11.01 on Wednesday. The company has a market capitalization of $513.18 million, a price-to-earnings ratio of 14.12 and a beta of 0.70. The business has a 50-day moving average of $11.49 and a two-hundred day moving average of $11.60. Permian Basin Royalty Trust has a 1 year low of $10.14 and a 1 year high of $14.58.

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

Institutional Trading of Permian Basin Royalty Trust

A number of institutional investors have recently bought and sold shares of PBT. Atlas Wealth Partners LLC acquired a new stake in shares of Permian Basin Royalty Trust during the third quarter worth about $758,000. EagleClaw Capital Managment LLC increased its position in shares of 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 purchasing an additional 925 shares in the last quarter. Moors & Cabot Inc. increased its position 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 worth $6,363,000 after purchasing an additional 75,064 shares in the last quarter. Ironwood Financial llc acquired a new stake in shares of Permian Basin Royalty Trust during the third quarter worth about $220,000. Finally, Schwartz Investment Counsel Inc. increased its position in shares of 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 worth $16,647,000 after purchasing an additional 262,233 shares in the last quarter. 28.86% of the stock is owned by hedge funds and other 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.