Permian Basin Royalty Trust (NYSE:PBT) to Issue Dividend Increase – $0.02 Per Share

Permian Basin Royalty Trust (NYSE:PBTGet Free Report) declared a monthly dividend on Friday, September 18th. Investors of record on Wednesday, September 30th will be given a dividend of 0.0196 per share by the oil and gas producer on Thursday, October 15th. This represents a c) dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Wednesday, September 30th. This is a 4.8% 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 Up 0.8%

PBT stock opened at $35.12 on Friday. Permian Basin Royalty Trust has a twelve month low of $16.25 and a twelve month high of $37.00. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 100.36 and a beta of 0.50. The business’s fifty day simple moving average is $32.32 and its two-hundred day simple moving average is $27.17.

Permian Basin Royalty Trust (NYSE:PBTGet Free Report) last announced its quarterly earnings data on Thursday, August 13th. The oil and gas producer reported $0.08 earnings per share for the quarter. The company had revenue of $4.18 million during the quarter. Permian Basin Royalty Trust had a net margin of 91.96% and a return on equity of 9,990.08%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Permian Basin Royalty Trust in a research report on Tuesday, August 18th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

Read Our Latest Report on PBT

About Permian Basin Royalty Trust

(Get Free Report)

Permian Basin Royalty Trust is a grantor trust that holds interests in oil and natural gas properties located in the Permian Basin of West Texas. The trust does not operate wells or directly market hydrocarbons; instead, it receives royalty and overriding royalty income from production associated with its underlying properties.

The trust’s interests primarily include properties in the Waddell Ranch area of Crane County, Texas, along with other royalty properties in the state. Revenue is derived from the sale of crude oil, natural gas and natural gas liquids produced by the operators of these properties.

See Also

Dividend History for Permian Basin Royalty Trust (NYSE:PBT)

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