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.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Virtus ETF Advisers LLC boosted its stake in shares of Permian Basin Royalty Trust by 50.3% in the 4th quarter. Virtus ETF Advisers LLC now owns 752,651 shares of the oil and gas producer’s stock valued at $2,905,000 after buying an additional 251,789 shares during the period. Jane Street Group LLC purchased a new position in shares of Permian Basin Royalty Trust in the 4th quarter valued at about $1,171,000. Goldman Sachs Group Inc. purchased a new position in shares of Permian Basin Royalty Trust in the 4th quarter valued at about $206,000. State Street Corp boosted its stake in shares of Permian Basin Royalty Trust by 21.5% in the 4th quarter. State Street Corp now owns 51,335 shares of the oil and gas producer’s stock valued at $200,000 after buying an additional 9,091 shares during the period. Finally, Virtu Financial LLC purchased a new position in shares of Permian Basin Royalty Trust in the 4th quarter valued at about $197,000. Institutional investors and hedge funds own 9.14% of the company’s stock.

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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