Permian Basin Royalty Trust (NYSE:PBT) Lowered to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Permian Basin Royalty Trust (NYSE:PBT) from a buy rating to a hold rating in a research report released on Thursday.

Permian Basin Royalty Trust Stock Performance

PBT opened at $11.34 on Thursday. The company has a market cap of $528.32 million, a PE ratio of 14.53 and a beta of 0.70. The stock has a 50-day moving average of $11.35 and a 200-day moving average of $11.61. Permian Basin Royalty Trust has a 52-week low of $10.14 and a 52-week high of $14.58.

Permian Basin Royalty Trust Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, March 14th. Stockholders 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 dividend yield of 1.81%. The ex-dividend date of this dividend is Friday, February 28th. Permian Basin Royalty Trust’s dividend payout ratio is 32.05%.

Institutional Trading of Permian Basin Royalty Trust

Several large investors have recently modified their holdings of PBT. Lazard Asset Management LLC acquired a new position in Permian Basin Royalty Trust during the 4th quarter worth $623,000. Ameriprise Financial Inc. increased its stake in shares of Permian Basin Royalty Trust by 16.1% in the fourth quarter. Ameriprise Financial Inc. now owns 11,688 shares of the oil and gas producer’s stock worth $128,000 after purchasing an additional 1,623 shares during the period. Jane Street Group LLC acquired a new position in shares of Permian Basin Royalty Trust during the 4th quarter worth about $475,000. Lido Advisors LLC lifted 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 worth $1,273,000 after purchasing an additional 60,926 shares during the last quarter. Finally, Beacon Pointe Advisors LLC boosted its stake in 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 period. 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.