Permian Basin Royalty Trust (NYSE:PBT) Raises Dividend to $0.02 Per Share

Permian Basin Royalty Trust (NYSE:PBT) declared a monthly dividend on Tuesday, July 20th, Zacks reports. Stockholders of record on Friday, July 30th will be paid a dividend of 0.021 per share by the oil and gas producer on Friday, August 13th. This represents a $0.25 annualized dividend and a dividend yield of 5.02%. The ex-dividend date is Thursday, July 29th. This is an increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.01.

Permian Basin Royalty Trust has decreased its dividend by 62.6% over the last three years.

Shares of Permian Basin Royalty Trust stock opened at $5.02 on Wednesday. The firm has a market cap of $233.98 million, a price-to-earnings ratio of 15.00 and a beta of 1.18. Permian Basin Royalty Trust has a 52 week low of $2.11 and a 52 week high of $5.71. The company has a fifty day simple moving average of $4.86.

An institutional investor recently raised its position in Permian Basin Royalty Trust stock. Morgan Stanley lifted its position in Permian Basin Royalty Trust (NYSE:PBT) by 154.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 123,558 shares of the oil and gas producer’s stock after buying an additional 74,957 shares during the quarter. Morgan Stanley owned approximately 0.27% of Permian Basin Royalty Trust worth $492,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 9.49% of the company’s stock.

Permian Basin Royalty Trust Company Profile

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

Further Reading: Range Trading

Dividend History for Permian Basin Royalty Trust (NYSE:PBT)

Receive News & Ratings for Permian Basin Royalty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Permian Basin Royalty Trust and related companies with's FREE daily email newsletter.