Permian Basin Royalty Trust (NYSE:PBT – Get Rating) announced a monthly dividend on Wednesday, July 20th, Wall Street Journal reports. Shareholders of record on Friday, July 29th will be paid a dividend of 0.164 per share by the oil and gas producer on Friday, August 12th. This represents a $1.97 annualized dividend and a yield of 10.81%. The ex-dividend date is Thursday, July 28th. This is an increase from Permian Basin Royalty Trust's previous monthly dividend of $0.09.
Permian Basin Royalty Trust has decreased its dividend payment by an average of 29.7% annually over the last three years and has increased its dividend every year for the last 1 years.
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Permian Basin Royalty Trust Trading Up 4.2 %
Shares of Permian Basin Royalty Trust stock traded up $0.74 on Wednesday, hitting $18.21. 10,344 shares of the company traded hands, compared to its average volume of 254,778. The company has a 50-day moving average price of $16.99 and a 200 day moving average price of $14.33. Permian Basin Royalty Trust has a 12-month low of $4.64 and a 12-month high of $23.08.
Permian Basin Royalty Trust (NYSE:PBT – Get Rating) last issued its quarterly earnings data on Monday, May 16th. The oil and gas producer reported $0.08 earnings per share (EPS) for the quarter. Permian Basin Royalty Trust had a net
margin of 91.67% and a return on equity of 3,610.01%. The firm had revenue of $4.08 million during the quarter.
Analyst Upgrades and Downgrades
PBT has been the subject of a number of research analyst reports. StockNews.com initiated coverage on shares of Permian Basin Royalty Trust in a research report on Thursday, March 31st. They set a "hold" rating for the company. TheStreet raised shares of Permian Basin Royalty Trust from a "c" rating to a "b" rating in a research report on Friday, May 20th.
Institutional Trading of Permian Basin Royalty Trust
Several hedge funds have recently modified their holdings of the company. Walleye Capital LLC acquired a new stake in shares of Permian Basin Royalty Trust during the first quarter worth approximately $132,000. BNP Paribas Arbitrage SA bought a new stake in shares of Permian Basin Royalty Trust during the first quarter valued at approximately $1,073,000. State Street Corp bought a new stake in shares of Permian Basin Royalty Trust during the first quarter valued at approximately $190,000. PEAK6 Investments LLC bought a new stake in shares of Permian Basin Royalty Trust during the first quarter valued at approximately $143,000. Finally, Sowell Financial Services LLC bought a new stake in shares of Permian Basin Royalty Trust during the first quarter valued at approximately $1,934,000.
About Permian Basin Royalty Trust
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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.
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