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

Permian Basin Royalty Trust (NYSE:PBT) announced a monthly dividend on Friday, December 19th. Stockholders of record on Wednesday, December 31st will be paid a dividend of 0.0132 per share by the oil and gas producer on Thursday, January 15th. This represents a c) dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, December 31st.

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

Shares of PBT stock opened at $16.79 on Friday. Permian Basin Royalty Trust has a one year low of $8.01 and a one year high of $20.46. The company’s fifty day moving average price is $18.10 and its 200-day moving average price is $16.02. The company has a market capitalization of $782.58 million, a price-to-earnings ratio of 49.38 and a beta of 0.47.

Permian Basin Royalty Trust (NYSE:PBT) last issued its quarterly earnings results on Thursday, November 13th. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter. The business had revenue of $7.27 million during the quarter. Permian Basin Royalty Trust had a return on equity of 9,354.51% and a net margin of 88.68%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Permian Basin Royalty Trust in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Permian Basin Royalty Trust presently has an average rating of “Hold”.

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.