Permian Basin Royalty Trust (NYSE:PBT) Trading Up 11.3% Following Dividend Announcement
Permian Basin Royalty Trust (NYSE:PBT)’s share price was up 11.3% during mid-day trading on Tuesday after the company announced a dividend. The stock traded as high as $2.88 and last traded at $2.85, approximately 255,300 shares were traded during mid-day trading. An increase of 14% from the average daily volume of 223,633 shares. The stock had previously closed at $2.56.
The newly announced dividend which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st will be given a $0.0338 dividend. This represents a $0.41 annualized dividend and a yield of 13.13%. The ex-dividend date is Monday, March 30th.
The company has a market capitalization of $119.32 million, a price-to-earnings ratio of 7.36 and a beta of 0.71. The firm has a 50-day simple moving average of $3.52 and a two-hundred day simple moving average of $4.00.
Permian Basin Royalty Trust Company Profile (NYSE:PBT)
Permian Basin Royalty Trust, an express trust, holds overriding royalty interests in various oil and gas properties in the United States. The company owns a 75% net overriding royalty interest in the Waddell Ranch properties comprising Dune, Judkins, McKnight, Tubb, University-Waddell, and Waddell fields located in Crane County, Texas.
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