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

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

Permian Basin Royalty Trust Stock Up 2.1 %

Shares of NYSE PBT traded up $0.26 during trading hours on Thursday, reaching $12.75. The stock had a trading volume of 198,494 shares, compared to its average volume of 126,813. Permian Basin Royalty Trust has a fifty-two week low of $10.14 and a fifty-two week high of $19.74. The firm has a 50-day moving average of $11.57 and a 200-day moving average of $11.59.

Hedge Funds Weigh In On Permian Basin Royalty Trust

Hedge funds and other institutional investors have recently made changes to their positions in the business. Schwartz Investment Counsel Inc. raised its position in 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 acquiring an additional 262,233 shares in the last quarter. OFI Invest Asset Management bought a new position in shares of Permian Basin Royalty Trust in the second quarter worth about $1,303,000. BWM Planning LLC bought a new position in shares of Permian Basin Royalty Trust in the third quarter worth about $1,233,000. Moors & Cabot Inc. increased its position in Permian Basin Royalty Trust by 23.3% during the 2nd quarter. Moors & Cabot Inc. now owns 460,087 shares of the oil and gas producer’s stock valued at $5,181,000 after purchasing an additional 87,080 shares during the period. Finally, Independent Advisor Alliance acquired a new stake in shares of Permian Basin Royalty Trust during the 3rd quarter worth approximately $837,000. 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.