Permian Basin Royalty Trust (NYSE:PBT) Announces Monthly Dividend of $0.01

Permian Basin Royalty Trust (NYSE:PBT) announced a monthly dividend on Tuesday, February 17th. Investors of record on Friday, February 27th will be given a dividend of 0.0142 per share by the oil and gas producer on Friday, March 13th. This represents a c) dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, February 27th.

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

Permian Basin Royalty Trust Price Performance

Permian Basin Royalty Trust stock traded down $0.22 during mid-day trading on Tuesday, hitting $18.64. 67,807 shares of the company’s stock traded hands, compared to its average volume of 63,762. The firm has a 50 day simple moving average of $17.97 and a two-hundred day simple moving average of $17.72. Permian Basin Royalty Trust has a fifty-two week low of $8.01 and a fifty-two week high of $20.46. The stock has a market cap of $868.88 million, a price-to-earnings ratio of 54.83 and a beta of 0.46.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. SoftVest Advisors LLC lifted its position in Permian Basin Royalty Trust by 40.1% during the second quarter. SoftVest Advisors LLC now owns 6,206,624 shares of the oil and gas producer’s stock worth $77,335,000 after acquiring an additional 1,776,929 shares during the last quarter. Horizon Kinetics Asset Management LLC increased its stake in shares of Permian Basin Royalty Trust by 1.5% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 6,187,800 shares of the oil and gas producer’s stock worth $105,069,000 after purchasing an additional 88,751 shares during the period. Mad River Investors lifted its holdings in Permian Basin Royalty Trust by 7.0% during the 4th quarter. Mad River Investors now owns 986,819 shares of the oil and gas producer’s stock worth $16,756,000 after purchasing an additional 64,589 shares during the last quarter. Moors & Cabot Inc. boosted its stake in Permian Basin Royalty Trust by 10.5% in the 4th quarter. Moors & Cabot Inc. now owns 585,746 shares of the oil and gas producer’s stock valued at $9,946,000 after purchasing an additional 55,456 shares during the period. Finally, Hosking Partners LLP boosted its stake in Permian Basin Royalty Trust by 12.8% in the 4th quarter. Hosking Partners LLP now owns 346,683 shares of the oil and gas producer’s stock valued at $5,887,000 after purchasing an additional 39,230 shares during the period. 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.