Permian Basin Royalty Trust (NYSE:PBT) Declares Dividend Increase – $0.04 Per Share

Permian Basin Royalty Trust (NYSE:PBT) announced a monthly dividend on Tuesday, July 21st. Investors of record on Friday, July 31st will be paid 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 yield of 1.8%. The ex-dividend date of this dividend 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%per year over the last three years.

Permian Basin Royalty Trust Stock Performance

Permian Basin Royalty Trust stock traded up $0.11 during midday trading on Tuesday, reaching $28.79. 90,622 shares of the stock were exchanged, compared to its average volume of 127,382. The company’s fifty day moving average is $27.55 and its 200-day moving average is $22.79. The firm has a market cap of $1.34 billion, a PE ratio of 89.98 and a beta of 0.48. Permian Basin Royalty Trust has a 52 week low of $12.60 and a 52 week high of $32.25.

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 firm had revenue of $3.57 million for the quarter. Permian Basin Royalty Trust had a return on equity of 9,061.81% and a net margin of 88.99%.

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.