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

Permian Basin Royalty Trust (NYSE:PBT) declared a monthly dividend on Tuesday, July 21st. Shareholders 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 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%annually over the last three years.

Permian Basin Royalty Trust Stock Up 0.4%

Shares of NYSE:PBT opened at $28.79 on Wednesday. Permian Basin Royalty Trust has a fifty-two week low of $12.60 and a fifty-two week high of $32.25. The firm’s 50-day simple moving average is $27.57 and its 200-day simple moving average is $22.87. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 89.98 and a beta of 0.48.

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

Institutional Investors Weigh In On Permian Basin Royalty Trust

A number of institutional investors and hedge funds have recently bought and sold shares of PBT. Kestra Advisory Services LLC acquired a new position in shares of Permian Basin Royalty Trust in the fourth quarter worth $28,000. NewEdge Advisors LLC boosted its stake in Permian Basin Royalty Trust by 53.1% in the 2nd quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer’s stock worth $47,000 after buying an additional 1,304 shares during the last quarter. CX Institutional increased its stake in shares of Permian Basin Royalty Trust by 80.3% during the 2nd quarter. CX Institutional now owns 2,109 shares of the oil and gas producer’s stock valued at $53,000 after acquiring an additional 939 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Permian Basin Royalty Trust by 27.0% in the second quarter. Bank of America Corp DE now owns 13,037 shares of the oil and gas producer’s stock worth $162,000 after acquiring an additional 2,769 shares during the last quarter. Finally, Royal Bank of Canada increased its position in Permian Basin Royalty Trust by 6.0% during the fourth quarter. Royal Bank of Canada now owns 9,802 shares of the oil and gas producer’s stock worth $166,000 after purchasing an additional 558 shares during the last quarter. Hedge funds and other institutional investors own 28.86% of the company’s stock.

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.