Permian Basin Royalty Trust (NYSE:PBT – Get Free Report) announced a monthly dividend on Tuesday, July 21st. Shareholders of record on Friday, July 31st will be paid a dividend of 0.0436 per share by the oil and gas producer on Friday, August 14th. This represents a c) dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, July 31st. This is a 76.6% increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.02.
Permian Basin Royalty Trust has increased its dividend payment by an average of 0.1%per year over the last three years.
Permian Basin Royalty Trust Stock Up 2.5%
NYSE PBT opened at $29.47 on Thursday. Permian Basin Royalty Trust has a 52 week low of $12.65 and a 52 week high of $32.25. The business has a 50 day moving average price of $27.58 and a 200-day moving average price of $22.96. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 92.09 and a beta of 0.48.
Analyst Ratings Changes
Separately, Weiss Ratings raised shares of Permian Basin Royalty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 21st. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold”.
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.
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