Permian Basin Royalty Trust (PBT) to Issue Monthly Dividend of $0.01 on April 14th

Permian Basin Royalty Trust (NYSE:PBT) announced a monthly dividend on Friday, March 20th. Stockholders of record on Tuesday, March 31st will be paid a dividend of 0.0107 per share by the oil and gas producer on Tuesday, April 14th. This represents a c) dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Tuesday, March 31st.

Permian Basin Royalty Trust has raised its dividend payment by an average of 0.1%annually over the last three years.

Permian Basin Royalty Trust Stock Down 0.9%

Shares of PBT stock opened at $20.68 on Friday. The company has a 50 day moving average price of $19.34 and a 200-day moving average price of $18.42. Permian Basin Royalty Trust has a 52 week low of $8.01 and a 52 week high of $21.50. The firm has a market capitalization of $964.03 million, a PE ratio of 60.83 and a beta of 0.43.

Hedge Funds Weigh In On Permian Basin Royalty Trust

Hedge funds and other institutional investors have recently modified their holdings of the company. Horizon Kinetics Asset Management LLC increased its position in Permian Basin Royalty Trust by 41.3% during the second quarter. Horizon Kinetics Asset Management LLC now owns 5,839,825 shares of the oil and gas producer’s stock valued at $72,764,000 after acquiring an additional 1,705,498 shares during the last quarter. Advisory Services Network LLC boosted its position in Permian Basin Royalty Trust by 327.9% in the second quarter. Advisory Services Network LLC now owns 246,391 shares of the oil and gas producer’s stock worth $3,299,000 after purchasing an additional 188,807 shares during the last quarter. Mad River Investors boosted its position in Permian Basin Royalty Trust by 3.4% in the third quarter. Mad River Investors now owns 922,230 shares of the oil and gas producer’s stock worth $16,831,000 after purchasing an additional 30,313 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of Permian Basin Royalty Trust by 75.4% during the 3rd quarter. HighTower Advisors LLC now owns 71,093 shares of the oil and gas producer’s stock valued at $1,298,000 after purchasing an additional 30,556 shares during the period. Finally, Quadrature Capital Ltd bought a new stake in shares of Permian Basin Royalty Trust during the 2nd quarter valued at about $232,000. 28.86% of the stock is owned by institutional investors.

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.