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

Permian Basin Royalty Trust (NYSE:PBT) declared 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 increased its dividend by an average of 36.7% per year over the last three years.

Permian Basin Royalty Trust Stock Up 4.7 %

PBT stock 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 firm has a 50-day simple moving average of $12.75 and a 200-day simple moving average of $15.33. The stock has a market capitalization 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 quarterly earnings data on Thursday, February 29th. The oil and gas producer reported $0.31 EPS for the quarter. Permian Basin Royalty Trust had a return on equity of 13,667.19% and a net margin of 96.16%. The company had revenue of $14.44 million during the quarter.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Large investors have recently modified their holdings of the business. Sowell Financial Services LLC acquired a new position in Permian Basin Royalty Trust during the first quarter worth about $1,934,000. Morgan Stanley lifted its stake in Permian Basin Royalty Trust by 157.7% in the 4th quarter. Morgan Stanley now owns 241,720 shares of the oil and gas producer’s stock worth $6,091,000 after purchasing an additional 147,931 shares in the last quarter. Pathstone Holdings LLC purchased a new position in Permian Basin Royalty Trust in the 4th quarter worth approximately $1,402,000. BNP Paribas Arbitrage SA acquired a new position in shares of Permian Basin Royalty Trust during the 1st quarter worth approximately $1,073,000. Finally, Beacon Pointe Advisors LLC grew its position in shares of Permian Basin Royalty Trust by 53.2% in the second quarter. Beacon Pointe Advisors LLC now owns 176,406 shares of the oil and gas producer’s stock valued at $4,400,000 after purchasing an additional 61,260 shares in the last quarter. Hedge funds and other institutional investors own 28.86% of the company’s stock.

Permian Basin Royalty Trust Company Profile

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.