StockNews.com lowered shares of Permian Basin Royalty Trust (NYSE:PBT - Free Report) from a buy rating to a hold rating in a research report released on Thursday morning.
Permian Basin Royalty Trust Price Performance
PBT stock traded down $0.34 during midday trading on Thursday, reaching $10.99. 45,026 shares of the company were exchanged, compared to its average volume of 116,265. The business has a 50-day moving average price of $11.35 and a two-hundred day moving average price of $11.61. The firm has a market capitalization of $512.24 million, a price-to-earnings ratio of 14.10 and a beta of 0.70. Permian Basin Royalty Trust has a one year low of $10.14 and a one year high of $14.58.
Permian Basin Royalty Trust Cuts Dividend
The business also recently declared a monthly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a $0.0171 dividend. This represents a $0.21 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Friday, February 28th. Permian Basin Royalty Trust's payout ratio is currently 32.05%.
Institutional Investors Weigh In On Permian Basin Royalty Trust
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Lazard Asset Management LLC purchased a new stake in Permian Basin Royalty Trust in the 4th quarter valued at $623,000. Ameriprise Financial Inc. increased its position in shares of Permian Basin Royalty Trust by 16.1% during the 4th quarter. Ameriprise Financial Inc. now owns 11,688 shares of the oil and gas producer's stock valued at $128,000 after purchasing an additional 1,623 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Permian Basin Royalty Trust during the 4th quarter valued at $475,000. Lido Advisors LLC increased its position in shares of Permian Basin Royalty Trust by 113.4% during the 4th quarter. Lido Advisors LLC now owns 114,642 shares of the oil and gas producer's stock valued at $1,273,000 after purchasing an additional 60,926 shares during the last quarter. Finally, Beacon Pointe Advisors LLC increased its position in shares of Permian Basin Royalty Trust by 42.1% during the 4th quarter. Beacon Pointe Advisors LLC now owns 138,924 shares of the oil and gas producer's stock valued at $1,531,000 after purchasing an additional 41,167 shares during the last quarter. 28.86% of the stock is owned by hedge funds and other institutional investors.
Permian Basin Royalty Trust Company Profile
(
Get Free Report)
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.
See Also
Before you consider Permian Basin Royalty Trust, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Permian Basin Royalty Trust wasn't on the list.
While Permian Basin Royalty Trust currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
