What Will Happen to Permian Basin Royalty Trust (PBT) Next? The Stock Formed a Several Months Bullish Multiple Top Chart Pattern

April 17, 2018 - By Jason Grubb

Investors sentiment increased to 0.96 in Q4 2017. Its up 0.12, from 0.84 in 2017Q3. It is positive, as 9 investors sold Permian Basin Royalty Trust shares while 14 reduced holdings. 10 funds opened positions while 12 raised stakes. 4.55 million shares or 3.23% more from 4.41 million shares in 2017Q3 were reported.
186,801 were accumulated by Renaissance Tech Ltd. The New York-based Price Michael F has invested 0.03% in Permian Basin Royalty Trust (NYSE:PBT). Glenmede Na reported 0% stake. Fmr Limited Liability Company has 137,338 shares. Susquehanna Intll Gru Limited Liability Partnership reported 41,089 shares. Natl Bank Of America Corp De reported 0% of its portfolio in Permian Basin Royalty Trust (NYSE:PBT). 42,953 are held by Millennium Management Ltd Liability Company. Catawba Capital Management Va accumulated 17,501 shares or 0.03% of the stock. Stifel Fincl invested in 0% or 59,781 shares. Pnc Financial Svcs Grp Inc holds 0% or 12,386 shares. Gru One Trading Lp invested in 0% or 1,681 shares. Diligent Limited Liability, California-based fund reported 10,200 shares. Capital Invest Llc owns 45,245 shares for 0.03% of their portfolio. Foundation holds 1.74% of its portfolio in Permian Basin Royalty Trust (NYSE:PBT) for 1.09M shares. Mcgowan Gp Asset Mngmt invested 0.1% of its portfolio in Permian Basin Royalty Trust (NYSE:PBT).

The stock of Permian Basin Royalty Trust (PBT) shows a multiple tops pattern with $10.45 target or 7.00 % above today’s $9.77 share price. The 9 months chart pattern indicates low risk for the $455.37 million company. It was reported on Apr, 17 by Finviz.com. If the $10.45 price target is reached, the company will be worth $31.88 million more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock increased 0.72% or $0.0701 during the last trading session, reaching $9.7701. About 57,038 shares traded. Permian Basin Royalty Trust (NYSE:PBT) has risen 5.95% since April 17, 2017 and is uptrending. It has underperformed by 5.60% the S&P500.

Permian Basin Royalty Trust (NYSE:PBT) Institutional Positions Chart

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