Permian Basin Royalty Trust (NYSE:PBT) Raises Dividend to $0.02 Per Share

Permian Basin Royalty Trust (NYSE:PBT) declared a monthly dividend on Thursday, June 18th. Shareholders of record on Tuesday, June 30th will be paid a dividend of 0.0247 per share by the oil and gas producer on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Tuesday, June 30th. This is a 21.2% 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 Down 1.3%

Shares of PBT traded down $0.33 during mid-day trading on Thursday, reaching $25.07. The company had a trading volume of 205,086 shares, compared to its average volume of 134,200. Permian Basin Royalty Trust has a fifty-two week low of $11.78 and a fifty-two week high of $32.25. The firm has a fifty day simple moving average of $25.84 and a 200-day simple moving average of $21.41. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 78.34 and a beta of 0.49.

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

Institutional Investors Weigh In On Permian Basin Royalty Trust

Several institutional investors have recently bought and sold shares of the business. Sei Investments Co. increased its position in shares of Permian Basin Royalty Trust by 116.0% in the first quarter. Sei Investments Co. now owns 422,000 shares of the oil and gas producer’s stock worth $9,081,000 after acquiring an additional 226,600 shares in the last quarter. Mad River Investors boosted its position in Permian Basin Royalty Trust by 1.7% during the 1st quarter. Mad River Investors now owns 1,003,140 shares of the oil and gas producer’s stock worth $21,588,000 after purchasing an additional 16,321 shares during the period. Welch Group LLC boosted its position in Permian Basin Royalty Trust by 8.4% during the 1st quarter. Welch Group LLC now owns 19,298 shares of the oil and gas producer’s stock worth $415,000 after purchasing an additional 1,500 shares during the period. XTX Topco Ltd acquired a new stake in Permian Basin Royalty Trust in the 4th quarter valued at $230,000. Finally, Avondale Wealth Management raised its position in Permian Basin Royalty Trust by 215.5% in the fourth quarter. Avondale Wealth Management now owns 45,750 shares of the oil and gas producer’s stock valued at $777,000 after purchasing an additional 31,250 shares during the period. 28.86% of the stock is currently owned by hedge funds and other 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.