Permian Basin Royalty Trust (NYSE:PBT) Raises Dividend to $0.04 Per Share

Permian Basin Royalty Trust (NYSE:PBT) announced a monthly dividend on Tuesday, January 20th. Investors 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) annualized dividend and a dividend yield of 2.5%. 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%annually over the last three years.

Permian Basin Royalty Trust Stock Performance

Shares of Permian Basin Royalty Trust stock traded up $0.22 on Wednesday, hitting $18.98. 17,536 shares of the company traded hands, compared to its average volume of 55,255. Permian Basin Royalty Trust has a 52 week low of $8.01 and a 52 week high of $20.46. The business has a 50-day simple moving average of $17.90 and a 200 day simple moving average of $16.96. The stock has a market capitalization of $884.42 million, a P/E ratio of 55.81 and a beta of 0.45.

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

Institutional Trading of Permian Basin Royalty Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PBT. Stratos Wealth Partners LTD. lifted its stake in shares of Permian Basin Royalty Trust by 90.3% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 20,270 shares of the oil and gas producer’s stock worth $253,000 after acquiring an additional 9,620 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of Permian Basin Royalty Trust by 4,701.1% during the second quarter. Bessemer Group Inc. now owns 96,021 shares of the oil and gas producer’s stock worth $1,196,000 after purchasing an additional 94,021 shares during the last quarter. Clark Asset Management LLC purchased a new stake in shares of Permian Basin Royalty Trust during the second quarter valued at $124,000. Access Investment Management LLC bought a new position in shares of Permian Basin Royalty Trust in the second quarter worth about $64,000. Finally, Atlas Wealth Partners LLC increased its stake in Permian Basin Royalty Trust by 14.5% in the 2nd quarter. Atlas Wealth Partners LLC now owns 77,163 shares of the oil and gas producer’s stock worth $960,000 after buying an additional 9,800 shares during the period. 28.86% of the stock is owned by hedge funds and other institutional investors.

About Permian Basin Royalty Trust

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.