Permian Basin Royalty Trust (NYSE:PBT – Get Free Report) declared a monthly dividend on Friday, August 21st. Investors of record on Monday, August 31st will be paid a dividend of 0.0187 per share by the oil and gas producer on Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st.
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
NYSE:PBT traded up $0.24 during trading hours on Friday, reaching $34.31. 83,560 shares of the company traded hands, compared to its average volume of 131,053. The stock has a market cap of $1.60 billion, a P/E ratio of 98.03 and a beta of 0.48. Permian Basin Royalty Trust has a 1-year low of $15.73 and a 1-year high of $35.50. The firm’s 50-day moving average is $28.54 and its 200-day moving average is $24.92.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Permian Basin Royalty Trust in a report on Tuesday. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.
Check Out Our Latest Stock Analysis on PBT
About Permian Basin Royalty Trust
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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