Permian Basin Royalty Trust (NYSE:PBT) Announces $0.02 Monthly Dividend

Permian Basin Royalty Trust (NYSE:PBT) announced a monthly dividend on Monday, May 18th. Investors of record on Friday, May 29th will be given a dividend of 0.0204 per share by the oil and gas producer on Friday, June 12th. This represents a c) annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, May 29th.

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

Permian Basin Royalty Trust Trading Up 1.7%

NYSE:PBT opened at $29.52 on Tuesday. The stock has a market cap of $1.38 billion, a P/E ratio of 92.24 and a beta of 0.42. The stock has a 50 day simple moving average of $22.41 and a 200 day simple moving average of $19.82. Permian Basin Royalty Trust has a 1-year low of $10.77 and a 1-year high of $29.69.

Permian Basin Royalty Trust (NYSE:PBT) last released its quarterly earnings results on Thursday, May 14th. The oil and gas producer reported $0.06 earnings per share 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%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Permian Basin Royalty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 30th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

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.