Permian Basin Royalty Trust (NYSE:PBT) Declares Monthly Dividend of $0.01

Permian Basin Royalty Trust (NYSE:PBT) announced a monthly dividend on Tuesday, February 17th. Shareholders of record on Friday, February 27th will be given a dividend of 0.0142 per share by the oil and gas producer on Friday, March 13th. This represents a c) annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, February 27th.

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

Permian Basin Royalty Trust Trading Down 1.2%

Shares of Permian Basin Royalty Trust stock traded down $0.22 during trading on Tuesday, reaching $18.64. The stock had a trading volume of 67,807 shares, compared to its average volume of 63,762. The company has a market capitalization of $868.88 million, a price-to-earnings ratio of 54.83 and a beta of 0.46. The stock has a fifty day moving average price of $17.97 and a two-hundred day moving average price of $17.72. Permian Basin Royalty Trust has a 52 week low of $8.01 and a 52 week high of $20.46.

Hedge Funds Weigh In On Permian Basin Royalty Trust

Hedge funds have recently made changes to their positions in the business. Geneos Wealth Management Inc. bought a new stake in shares of Permian Basin Royalty Trust in the third quarter worth $27,000. Kestra Advisory Services LLC acquired a new stake in Permian Basin Royalty Trust in the 4th quarter valued at $28,000. Foster Dykema Cabot & Partners LLC acquired a new stake in Permian Basin Royalty Trust in the 3rd quarter valued at $40,000. NewEdge Advisors LLC lifted its position in Permian Basin Royalty Trust by 53.1% during 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 in the last quarter. Finally, Access Investment Management LLC acquired a new position in shares of Permian Basin Royalty Trust during the 2nd quarter worth about $64,000. 28.86% of the stock is owned by 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.