Permian Basin Royalty Trust (NYSE:PBT) Declares Monthly Dividend of $0.04

Permian Basin Royalty Trust (NYSE:PBT) declared a monthly dividend on Tuesday, January 20th. Stockholders of record on Friday, January 30th will be given a dividend of 0.0401 per share by the oil and gas producer on Friday, February 13th. This represents a c) dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, January 30th. This is a 203.5% increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.01.

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

Permian Basin Royalty Trust Stock Up 1.2%

Shares of PBT stock opened at $18.84 on Wednesday. The business has a fifty day simple moving average of $17.90 and a 200 day simple moving average of $16.96. The company has a market cap of $878.04 million, a P/E ratio of 55.41 and a beta of 0.45. Permian Basin Royalty Trust has a twelve month low of $8.01 and a twelve month high of $20.46.

Permian Basin Royalty Trust (NYSE:PBT) last released its earnings results on Thursday, November 13th. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter. The firm had revenue of $7.27 million for the quarter. Permian Basin Royalty Trust had a return on equity of 9,354.51% and a net margin of 88.68%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Permian Basin Royalty Trust in a research report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

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.