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

by · The Cerbat Gem

Permian Basin Royalty Trust (NYSE:PBT – Get Free Report) 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 of this dividend is Friday, May 29th.

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 Trading Up 1.7%

PBT traded up $0.51 during trading hours on Monday, hitting $29.52. The company’s stock had a trading volume of 240,590 shares, compared to its average volume of 127,401. Permian Basin Royalty Trust has a fifty-two week low of $10.77 and a fifty-two week high of $29.69. The firm has a market capitalization of $1.38 billion, a PE ratio of 92.24 and a beta of 0.42. The company has a 50-day simple moving average of $22.24 and a 200 day simple moving average of $19.73.

Permian Basin Royalty Trust (NYSE:PBT – Get Free Report) last posted its earnings results on Thursday, May 14th. The oil and gas producer reported $0.06 EPS for the quarter. Permian Basin Royalty Trust had a return on equity of 9,061.81% and a net margin of 88.99%.The firm had revenue of $3.57 million for the quarter.

Wall Street Analysts Forecast Growth

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

Check Out Our Latest Analysis on Permian Basin Royalty Trust

Permian Basin Royalty Trust Company Profile

(Get Free Report)

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.

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