Permian Basin Royalty Trust (NYSE:PBT – Get Free Report) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.
Permian Basin Royalty Trust Trading Up 2.1 %
NYSE:PBT traded up $0.26 on Thursday, hitting $12.75. The stock had a trading volume of 198,494 shares, compared to its average volume of 126,813. The business’s 50-day simple moving average is $11.57 and its two-hundred day simple moving average is $11.59. Permian Basin Royalty Trust has a 52-week low of $10.14 and a 52-week high of $19.74.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. Access Investment Management LLC acquired a new stake in Permian Basin Royalty Trust during the third quarter worth $97,000. International Assets Investment Management LLC lifted its holdings in shares of Permian Basin Royalty Trust by 1,089.0% in the 3rd quarter. International Assets Investment Management LLC now owns 8,323 shares of the oil and gas producer’s stock valued at $99,000 after purchasing an additional 7,623 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in Permian Basin Royalty Trust in the 3rd quarter valued at about $110,000. Avondale Wealth Management purchased a new position in Permian Basin Royalty Trust in the 3rd quarter valued at approximately $113,000. Finally, Flow Traders U.S. LLC purchased a new position in Permian Basin Royalty Trust in the 3rd quarter valued at approximately $167,000. 28.86% of the stock is owned by institutional investors and hedge funds.
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.
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