Permian Basin Royalty Trust (NYSE:PBT) Upgraded at StockNews.com

StockNews.com upgraded shares of Permian Basin Royalty Trust (NYSE:PBT) from a hold rating to a buy rating in a research note issued to investors on Thursday.

Permian Basin Royalty Trust Price Performance

Shares of NYSE PBT opened at $12.86 on Thursday. Permian Basin Royalty Trust has a 52-week low of $10.14 and a 52-week high of $19.74. The business’s 50 day moving average is $11.61 and its two-hundred day moving average is $11.59.

Permian Basin Royalty Trust Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were given a $0.03 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date was Thursday, October 31st. Permian Basin Royalty Trust’s payout ratio is 46.15%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

Several institutional investors have recently modified their holdings of the business. EagleClaw Capital Managment LLC grew its stake in shares of Permian Basin Royalty Trust by 2.3% in the third quarter. EagleClaw Capital Managment LLC now owns 41,375 shares of the oil and gas producer’s stock worth $492,000 after acquiring an additional 925 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Permian Basin Royalty Trust by 5.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 21,918 shares of the oil and gas producer’s stock worth $247,000 after acquiring an additional 1,150 shares in the last quarter. PFG Investments LLC grew its stake in shares of Permian Basin Royalty Trust by 8.1% in the second quarter. PFG Investments LLC now owns 18,666 shares of the oil and gas producer’s stock worth $210,000 after acquiring an additional 1,400 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Permian Basin Royalty Trust by 3.8% in the second quarter. Commonwealth Equity Services LLC now owns 75,375 shares of the oil and gas producer’s stock worth $849,000 after acquiring an additional 2,761 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of Permian Basin Royalty Trust by 1,089.0% in 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 in the last quarter. Institutional investors and hedge funds own 28.86% of the company’s stock.

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.