Weiss Ratings Reiterates "Hold (C-)" Rating for Permian Basin Royalty Trust (NYSE:PBT)

Key Points

• Weiss Ratings has reaffirmed a "Hold (C-)" rating for Permian Basin Royalty Trust (NYSE:PBT) in a recent note to investors.
• The company reported quarterly earnings of $0.05 per share with a net margin of 89.90% and significant revenue of $3.11 million.
• Institutional investors hold 28.86% of Permian Basin Royalty Trust's stock, with notable increases in stakes from several hedge funds in the second quarter.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report)'s stock had its "hold (c-)" rating reissued by stock analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Permian Basin Royalty Trust Price Performance

PBT opened at $16.95 on Wednesday. The company's 50-day moving average is $16.96 and its 200 day moving average is $13.13. Permian Basin Royalty Trust has a fifty-two week low of $8.01 and a fifty-two week high of $19.52. The firm has a market capitalization of $790.02 million, a P/E ratio of 47.08 and a beta of 0.63.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The oil and gas producer reported $0.05 earnings per share for the quarter. Permian Basin Royalty Trust had a net margin of 89.90% and a return on equity of 9,737.65%. The company had revenue of $3.11 million for the quarter.

Institutional Trading of Permian Basin Royalty Trust

Several hedge funds have recently added to or reduced their stakes in the stock. Advisory Services Network LLC raised its position in Permian Basin Royalty Trust by 327.9% in the second quarter. Advisory Services Network LLC now owns 246,391 shares of the oil and gas producer's stock worth $3,299,000 after acquiring an additional 188,807 shares during the period. SoftVest Advisors LLC raised its position in Permian Basin Royalty Trust by 40.1% in the second quarter. SoftVest Advisors LLC now owns 6,206,624 shares of the oil and gas producer's stock worth $77,335,000 after acquiring an additional 1,776,929 shares during the period. Bank of America Corp DE raised its position in Permian Basin Royalty Trust by 27.0% in the second quarter. Bank of America Corp DE now owns 13,037 shares of the oil and gas producer's stock worth $162,000 after acquiring an additional 2,769 shares during the period. Ameriprise Financial Inc. raised its position in Permian Basin Royalty Trust by 23.0% in the second quarter. Ameriprise Financial Inc. now owns 17,185 shares of the oil and gas producer's stock worth $214,000 after acquiring an additional 3,213 shares during the period. Finally, Raymond James Financial Inc. raised its position in Permian Basin Royalty Trust by 145.1% in the second quarter. Raymond James Financial Inc. now owns 64,466 shares of the oil and gas producer's stock worth $803,000 after acquiring an additional 38,164 shares during the period. Institutional investors own 28.86% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.