Permian Basin Royalty Trust (PBT) to Issue Monthly Dividend of $0.04 on August 14th

Permian Basin Royalty Trust (NYSE:PBT) announced a monthly dividend on Tuesday, July 21st. Investors of record on Friday, July 31st will be given a dividend of 0.0436 per share by the oil and gas producer on Friday, August 14th. This represents a c) dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, July 31st. This is a 76.6% increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.02.

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

Permian Basin Royalty Trust Trading Up 1.6%

Permian Basin Royalty Trust stock opened at $28.06 on Wednesday. Permian Basin Royalty Trust has a 12 month low of $12.95 and a 12 month high of $32.25. The business’s 50 day simple moving average is $27.53 and its 200 day simple moving average is $23.27. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 87.67 and a beta of 0.48.

Permian Basin Royalty Trust (NYSE:PBT) last released its earnings results on Thursday, May 14th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter. The business had revenue of $3.57 million during the quarter. Permian Basin Royalty Trust had a return on equity of 9,061.81% and a net margin of 88.99%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

Hedge funds have recently made changes to their positions in the stock. 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 in the last quarter. Horizon Kinetics Asset Management LLC grew its holdings in Permian Basin Royalty Trust by 1.5% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 6,187,800 shares of the oil and gas producer’s stock valued at $105,069,000 after buying an additional 88,751 shares in the last quarter. Moors & Cabot Inc. grew its holdings in Permian Basin Royalty Trust by 10.5% during 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 buying an additional 55,456 shares in the last quarter. Hosking Partners LLP increased its position in shares of Permian Basin Royalty Trust by 12.8% during the fourth quarter. Hosking Partners LLP now owns 346,683 shares of the oil and gas producer’s stock valued at $5,887,000 after buying an additional 39,230 shares during the period. Finally, NewEdge Advisors LLC increased its position in shares of Permian Basin Royalty Trust by 53.1% during the second quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer’s stock valued at $47,000 after buying an additional 1,304 shares during the period. 28.86% of the stock is currently owned by hedge funds and other institutional investors.

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.