Permian Basin Royalty Trust (NYSE:PBT) to Issue $0.02 Monthly Dividend

Permian Basin Royalty Trust (NYSE:PBT) declared a monthly dividend on Monday, May 18th. Shareholders of record on Friday, May 29th will be given a dividend of 0.0204 per share by the oil and gas producer on Friday, June 12th. This represents a c) dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, May 29th.

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 Stock Performance

Shares of Permian Basin Royalty Trust stock traded up $0.51 during trading hours on Monday, reaching $29.52. The company’s stock had a trading volume of 240,590 shares, compared to its average volume of 127,401. The company’s 50 day simple moving average is $22.24 and its 200 day simple moving average is $19.73. Permian Basin Royalty Trust has a one year low of $10.77 and a one year high of $29.69. The stock has a market cap of $1.38 billion, a P/E ratio of 92.24 and a beta of 0.42.

Permian Basin Royalty Trust (NYSE:PBT) last posted its quarterly earnings results on Thursday, May 14th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter. Permian Basin Royalty Trust had a net margin of 88.99% and a return on equity of 9,061.81%. The company had revenue of $3.57 million for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Permian Basin Royalty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 30th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Permian Basin Royalty Trust currently has an average rating of “Sell”.

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.