Permian Basin Royalty Trust (NYSE:PBT) Stock Rating Lowered by 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 Stock Performance

Shares of PBT opened at $11.54 on Monday. Permian Basin Royalty Trust has a fifty-two week low of $10.14 and a fifty-two week high of $15.79. The firm’s 50-day simple moving average is $12.06 and its two-hundred day simple moving average is $11.60. The stock has a market cap of $537.88 million, a PE ratio of 14.79 and a beta of 0.70.

Permian Basin Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.0219 per share. This represents a $0.26 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is 33.33%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Several hedge funds have recently added to or reduced their stakes in the stock. Access Investment Management LLC bought a new position in shares of Permian Basin Royalty Trust during the third quarter valued at $97,000. International Assets Investment Management LLC increased its stake in Permian Basin Royalty Trust by 1,089.0% during 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 in the last quarter. Prospera Private Wealth LLC purchased a new position in Permian Basin Royalty Trust in the third quarter worth about $110,000. Avondale Wealth Management bought a new position in shares of Permian Basin Royalty Trust in the third quarter worth approximately $113,000. Finally, Flow Traders U.S. LLC purchased a new stake in shares of Permian Basin Royalty Trust during the third quarter valued at approximately $167,000. 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.