Permian Basin Royalty Trust (NYSE:PBT) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Wednesday.

Permian Basin Royalty Trust (PBT) traded up 0.22% during midday trading on Wednesday, hitting $8.31. The company had a trading volume of 22,081 shares. The company has a market cap of $387.31 million, a P/E ratio of 14.76 and a beta of 0.59. Permian Basin Royalty Trust has a one year low of $6.65 and a one year high of $10.30. The company’s 50 day moving average is $8.92 and its 200-day moving average is $9.28.

Permian Basin Royalty Trust (NYSE:PBT) last posted its earnings results on Wednesday, August 9th. The oil and gas producer reported $0.15 EPS for the quarter. The business had revenue of $7.48 million during the quarter. Permian Basin Royalty Trust had a return on equity of 4,964.71% and a net margin of 95.38%.

TRADEMARK VIOLATION WARNING: “Permian Basin Royalty Trust (PBT) Cut to “Strong Sell” at BidaskClub” was first published by Watch List News and is owned by of Watch List News. If you are reading this article on another domain, it was copied illegally and reposted in violation of United States and international trademark and copyright legislation. The legal version of this article can be read at https://www.watchlistnews.com/permian-basin-royalty-trust-pbt-cut-to-strong-sell-at-bidaskclub/1495009.html.

Several institutional investors have recently bought and sold shares of the company. Sigma Planning Corp increased its position in Permian Basin Royalty Trust by 1.5% in the second quarter. Sigma Planning Corp now owns 12,804 shares of the oil and gas producer’s stock valued at $111,000 after buying an additional 193 shares during the period. Acadian Asset Management LLC bought a new position in Permian Basin Royalty Trust during the second quarter valued at approximately $136,000. Hancock Holding Co. bought a new position in Permian Basin Royalty Trust during the second quarter valued at approximately $182,000. Blair William & Co. IL increased its position in Permian Basin Royalty Trust by 13.5% in the second quarter. Blair William & Co. IL now owns 21,000 shares of the oil and gas producer’s stock valued at $183,000 after buying an additional 2,500 shares during the period. Finally, Hillsdale Investment Management Inc. bought a new position in Permian Basin Royalty Trust during the second quarter valued at approximately $265,000. Institutional investors and hedge funds own 10.01% of the company’s stock.

About Permian Basin Royalty Trust

Permian Basin Royalty Trust is an express trust. The Company’s Waddell Ranch Properties has mineral interests in the Waddell Ranch. Its Waddell Ranch properties have proved reserves in six fields: Dune, Sand Hills (Judkins), Sand Hills (McKnight), Sand Hills (Tubb), University-Waddell (Devonian) and Waddell.

Receive News & Ratings for Permian Basin Royalty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Permian Basin Royalty Trust and related companies with Analyst Ratings Network's FREE daily email newsletter.