Permian Basin Royalty Trust Declares Monthly Dividend of $0.09 (NYSE:PBT)

Permian Basin Royalty Trust (NYSE:PBT) announced a monthly dividend on Friday, April 19th, investing.com reports. Shareholders of record on Tuesday, April 30th will be given a dividend of 0.0882 per share by the oil and gas producer on Tuesday, May 14th. This represents a $1.06 annualized dividend and a yield of 8.73%. The ex-dividend date is Monday, April 29th.

Permian Basin Royalty Trust has raised its dividend by an average of 36.7% annually over the last three years.

Permian Basin Royalty Trust Stock Up 4.7 %

PBT opened at $12.13 on Friday. Permian Basin Royalty Trust has a 52-week low of $10.95 and a 52-week high of $27.15. The company has a 50 day moving average of $12.75 and a two-hundred day moving average of $15.33. The company has a market cap of $565.38 million, a P/E ratio of 20.22 and a beta of 0.59.

Permian Basin Royalty Trust (NYSE:PBT) last posted its earnings results on Thursday, February 29th. The oil and gas producer reported $0.31 EPS for the quarter. Permian Basin Royalty Trust had a net margin of 96.16% and a return on equity of 13,667.19%. The business had revenue of $14.44 million for the quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Virtus ETF Advisers LLC lifted its position in shares of Permian Basin Royalty Trust by 11.3% during the fourth quarter. Virtus ETF Advisers LLC now owns 9,390 shares of the oil and gas producer’s stock worth $131,000 after purchasing an additional 950 shares in the last quarter. Pathstone Holdings LLC acquired a new stake in Permian Basin Royalty Trust in the fourth quarter valued at $1,402,000. Creative Planning raised its holdings in shares of Permian Basin Royalty Trust by 5.7% during the fourth quarter. Creative Planning now owns 16,921 shares of the oil and gas producer’s stock worth $236,000 after purchasing an additional 906 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in shares of Permian Basin Royalty Trust by 105.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,517 shares of the oil and gas producer’s stock worth $63,000 after purchasing an additional 2,314 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in shares of Permian Basin Royalty Trust by 1,296.0% during the fourth quarter. International Assets Investment Management LLC now owns 2,792 shares of the oil and gas producer’s stock worth $39,000 after purchasing an additional 2,592 shares during the period. 28.86% of the stock is owned by institutional investors and hedge funds.

About Permian Basin Royalty Trust

Permian Basin Royalty Trust, an express trust, holds royalty interests in various oil and gas properties in the United States. The company holds a 75% net overriding royalty interest in the Waddell Ranch properties, including Dune, Sand Hills (Judkins), Sand Hills (McKnight), Sand Hills (Tubb), University-Waddell (Devonian) and Waddell fields in Crane County, Texas.