Permian Basin Royalty Trust (NYSE:PBT) Upgraded by StockNews.com to Buy Rating

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) was upgraded by stock analysts at StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Wednesday.

Permian Basin Royalty Trust Stock Performance

NYSE:PBT traded down $0.03 during mid-day trading on Wednesday, hitting $11.00. The stock had a trading volume of 55,437 shares, compared to its average volume of 114,225. Permian Basin Royalty Trust has a twelve month low of $10.14 and a twelve month high of $14.58. The stock has a market cap of $512.90 million, a price-to-earnings ratio of 14.11 and a beta of 0.70. The company's 50 day simple moving average is $11.45 and its 200 day simple moving average is $11.60.

Hedge Funds Weigh In On Permian Basin Royalty Trust

Several large investors have recently modified their holdings of PBT. Golden State Wealth Management LLC bought a new stake in shares of Permian Basin Royalty Trust during the 4th quarter worth about $27,000. JPMorgan Chase & Co. boosted its holdings in shares of Permian Basin Royalty Trust by 88.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,782 shares of the oil and gas producer's stock worth $53,000 after acquiring an additional 2,250 shares during the period. Access Investment Management LLC acquired a new position in shares of Permian Basin Royalty Trust in the third quarter valued at approximately $97,000. International Assets Investment Management LLC increased its stake in shares of 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 purchasing an additional 7,623 shares during the period. Finally, Prospera Private Wealth LLC acquired a new stake in Permian Basin Royalty Trust during the 3rd quarter worth approximately $110,000. 28.86% of the stock is owned by institutional investors.

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.