Permian Basin Royalty Trust (NYSE:PBT) Plans Dividend Increase – $0.04 Per Share

Permian Basin Royalty Trust (NYSE:PBT) declared a monthly dividend on Monday, April 20th. Shareholders of record on Thursday, April 30th will be given a dividend of 0.038 per share by the oil and gas producer on Thursday, May 14th. This represents a c) dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, April 30th. This is a 256.5% increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.01.

Permian Basin Royalty Trust has increased its dividend by an average of 0.1%per year over the last three years.

Permian Basin Royalty Trust Price Performance

PBT stock traded up $0.54 during trading on Monday, hitting $21.95. 59,670 shares of the company traded hands, compared to its average volume of 105,255. Permian Basin Royalty Trust has a 1 year low of $9.37 and a 1 year high of $22.71. The company has a market cap of $1.02 billion, a PE ratio of 68.59 and a beta of 0.41. The stock’s 50-day simple moving average is $20.62 and its 200 day simple moving average is $18.93.

Permian Basin Royalty Trust (NYSE:PBT) last issued its quarterly earnings data on Friday, March 27th. The oil and gas producer reported $0.06 EPS for the quarter. The business had revenue of $2.61 million for the quarter. Permian Basin Royalty Trust had a net margin of 89.06% and a return on equity of 8,774.67%.

Permian Basin Royalty Trust Company Profile

Permian Basin Royalty Trust (NYSE: PBT) is a passive investment vehicle that holds overriding royalty interests in oil and gas properties located in the Permian Basin region of West Texas. Established in 1980 by Apache Oil Company, the Trust does not engage in exploration or production activities. Instead, it owns net profit interests on specified acreage, allowing unitholders to participate directly in the cash flows generated by hydrocarbon extraction without bearing the costs or risks associated with day-to-day field operations.

The Trust’s interests cover acreage predominantly in Reeves and Loving Counties, where mature wells have been developed over several decades.