Permian Basin Royalty Trust (NYSE:PBT) Raises Dividend to $0.02 Per Share

Permian Basin Royalty Trust (NYSE:PBT) declared a monthly dividend on Friday, September 18th. Investors of record on Wednesday, September 30th will be given a dividend of 0.0196 per share by the oil and gas producer on Thursday, October 15th. This represents a c) annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 30th. This is a 4.8% increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.02.

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

Permian Basin Royalty Trust Stock Up 0.8%

Permian Basin Royalty Trust stock traded up $0.27 during midday trading on Friday, reaching $35.12. The company’s stock had a trading volume of 248,973 shares, compared to its average volume of 128,306. The business has a 50-day simple moving average of $32.15 and a 200-day simple moving average of $27.12. The company has a market cap of $1.64 billion, a P/E ratio of 100.36 and a beta of 0.50. Permian Basin Royalty Trust has a fifty-two week low of $16.25 and a fifty-two week high of $37.00.

Permian Basin Royalty Trust (NYSE:PBT) last released its quarterly earnings data on Thursday, August 13th. The oil and gas producer reported $0.08 EPS for the quarter. Permian Basin Royalty Trust had a return on equity of 9,990.08% and a net margin of 91.96%.The business had revenue of $4.18 million for the quarter.

Institutional Investors Weigh In On Permian Basin Royalty Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. CX Institutional lifted its position in Permian Basin Royalty Trust by 80.3% in the second quarter. CX Institutional now owns 2,109 shares of the oil and gas producer’s stock valued at $53,000 after acquiring an additional 939 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of Permian Basin Royalty Trust by 25.1% during the second quarter. NewEdge Advisors LLC now owns 3,493 shares of the oil and gas producer’s stock worth $87,000 after purchasing an additional 701 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Permian Basin Royalty Trust during the second quarter worth about $114,000. Post Resch Tallon Group Inc. purchased a new stake in shares of Permian Basin Royalty Trust in the 2nd quarter valued at about $210,000. Finally, Tidal Investments LLC purchased a new stake in shares of Permian Basin Royalty Trust in the 2nd quarter valued at about $211,000. 28.86% of the stock is owned by hedge funds and other institutional investors.

Permian Basin Royalty Trust Company Profile

Permian Basin Royalty Trust is a grantor trust that holds interests in oil and natural gas properties located in the Permian Basin of West Texas. The trust does not operate wells or directly market hydrocarbons; instead, it receives royalty and overriding royalty income from production associated with its underlying properties.

The trust’s interests primarily include properties in the Waddell Ranch area of Crane County, Texas, along with other royalty properties in the state. Revenue is derived from the sale of crude oil, natural gas and natural gas liquids produced by the operators of these properties.