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

Permian Basin Royalty Trust (NYSE:PBT) declared a monthly dividend on Friday, March 20th. Investors of record on Tuesday, March 31st will be given a dividend of 0.0107 per share by the oil and gas producer on Tuesday, April 14th. This represents a c) dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Tuesday, March 31st.

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

Permian Basin Royalty Trust Stock Down 0.9%

Shares of PBT traded down $0.20 during mid-day trading on Friday, hitting $20.68. 90,869 shares of the company’s stock were exchanged, compared to its average volume of 78,791. The stock has a market cap of $964.01 million, a price-to-earnings ratio of 60.83 and a beta of 0.43. The firm has a fifty day moving average of $19.28 and a two-hundred day moving average of $18.39. Permian Basin Royalty Trust has a twelve month low of $8.01 and a twelve month high of $21.50.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Several hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. bought a new stake in shares of Permian Basin Royalty Trust during the third quarter valued at approximately $27,000. Kestra Advisory Services LLC acquired a new stake in Permian Basin Royalty Trust during the fourth quarter worth $28,000. Foster Dykema Cabot & Partners LLC bought a new stake in Permian Basin Royalty Trust in the 3rd quarter valued at $40,000. NewEdge Advisors LLC increased its holdings in Permian Basin Royalty Trust by 53.1% in the 2nd 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. Finally, Atlantic Union Bankshares Corp raised its stake in shares of Permian Basin Royalty Trust by 16.2% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 7,582 shares of the oil and gas producer’s stock valued at $138,000 after buying an additional 1,058 shares in the last quarter. 28.86% of the stock is owned by institutional investors.

About Permian Basin Royalty Trust

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.