Permian Basin Royalty Trust (NYSE:PBT – Get Free Report) declared a monthly dividend on Thursday, June 18th. Stockholders of record on Tuesday, June 30th will be given a dividend of 0.0247 per share by the oil and gas producer on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Tuesday, June 30th. This is a 21.2% increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.02.
Permian Basin Royalty Trust has raised its dividend payment by an average of 0.1%per year over the last three years.
Permian Basin Royalty Trust Trading Down 2.2%
PBT opened at $24.45 on Friday. The stock has a fifty day moving average price of $26.31 and a 200 day moving average price of $21.73. Permian Basin Royalty Trust has a 1 year low of $12.31 and a 1 year high of $32.25. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 76.42 and a beta of 0.49.
Institutional Trading of Permian Basin Royalty Trust
Institutional investors and hedge funds have recently made changes to their positions in the stock. SoftVest Advisors LLC increased its holdings in shares of Permian Basin Royalty Trust by 40.1% during the 2nd quarter. SoftVest Advisors LLC now owns 6,206,624 shares of the oil and gas producer’s stock valued at $77,335,000 after acquiring an additional 1,776,929 shares during the last quarter. Sei Investments Co. grew its position in Permian Basin Royalty Trust by 116.0% in the 1st quarter. Sei Investments Co. now owns 422,000 shares of the oil and gas producer’s stock worth $9,081,000 after purchasing an additional 226,600 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Permian Basin Royalty Trust by 2,233.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 104,298 shares of the oil and gas producer’s stock valued at $1,300,000 after acquiring an additional 99,829 shares in the last quarter. UBS Group AG raised its stake in shares of Permian Basin Royalty Trust by 170.1% in the third quarter. UBS Group AG now owns 147,578 shares of the oil and gas producer’s stock valued at $2,693,000 after purchasing an additional 92,936 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC raised its stake in shares of Permian Basin Royalty Trust by 1.5% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 6,187,800 shares of the oil and gas producer’s stock valued at $105,069,000 after buying an additional 88,751 shares in the last quarter. Institutional investors and hedge funds own 28.86% of the company’s stock.
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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