Permian Basin Royalty Trust (NYSE:PBT) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Permian Basin Royalty Trust (NYSE:PBT) from a buy rating to a hold rating in a report issued on Monday.

Permian Basin Royalty Trust Price Performance

Shares of NYSE:PBT opened at $11.76 on Monday. Permian Basin Royalty Trust has a one year low of $10.14 and a one year high of $15.79. The company has a market cap of $548.13 million, a price-to-earnings ratio of 15.08 and a beta of 0.70. The firm has a 50 day simple moving average of $12.05 and a 200 day simple moving average of $11.60.

Permian Basin Royalty Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.0219 per share. This is an increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.26 annualized dividend and a dividend yield of 2.24%. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is 33.33%.

Institutional Trading of Permian Basin Royalty Trust

Several hedge funds and other institutional investors have recently made changes to their positions in PBT. Flow Traders U.S. LLC acquired a new stake in Permian Basin Royalty Trust during the 3rd quarter worth approximately $167,000. Independent Advisor Alliance bought a new position in shares of Permian Basin Royalty Trust during the third quarter valued at $837,000. Moors & Cabot Inc. lifted its holdings in shares of Permian Basin Royalty Trust by 16.3% during the third quarter. Moors & Cabot Inc. now owns 535,151 shares of the oil and gas producer’s stock worth $6,363,000 after purchasing an additional 75,064 shares during the period. 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 purchasing an additional 925 shares during the last quarter. Finally, Prospera Private Wealth LLC acquired a new stake in Permian Basin Royalty Trust in the third quarter valued at $110,000. 28.86% of the stock is currently 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.