Permian Basin Royalty Trust (NYSE:PBT) Declares Monthly Dividend of $0.04

Permian Basin Royalty Trust (NYSE:PBT) declared 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) dividend on an annualized basis and a dividend yield of 2.6%. 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 raised its dividend payment by an average of 0.1%annually over the last three years.

Permian Basin Royalty Trust Price Performance

Shares of PBT stock opened at $18.84 on Wednesday. The stock has a market capitalization of $878.04 million, a PE ratio of 55.41 and a beta of 0.45. The business’s 50 day simple moving average is $17.90 and its 200 day simple moving average is $16.96. Permian Basin Royalty Trust has a one year low of $8.01 and a one year high of $20.46.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. SoftVest Advisors LLC grew its holdings in Permian Basin Royalty Trust by 40.1% in the second quarter. SoftVest Advisors LLC now owns 6,206,624 shares of the oil and gas producer’s stock worth $77,335,000 after purchasing an additional 1,776,929 shares during the period. Horizon Kinetics Asset Management LLC grew its stake in shares of Permian Basin Royalty Trust by 41.3% in the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 5,839,825 shares of the oil and gas producer’s stock valued at $72,764,000 after buying an additional 1,705,498 shares during the period. Advisory Services Network LLC increased its position in Permian Basin Royalty Trust by 327.9% in the 2nd quarter. Advisory Services Network LLC now owns 246,391 shares of the oil and gas producer’s stock valued at $3,299,000 after buying an additional 188,807 shares in the last quarter. JPMorgan Chase & Co. increased its position in Permian Basin Royalty Trust by 2,233.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 104,298 shares of the oil and gas producer’s stock valued at $1,300,000 after buying an additional 99,829 shares in the last quarter. Finally, Bessemer Group Inc. raised its stake in Permian Basin Royalty Trust by 4,701.1% during the 2nd quarter. Bessemer Group Inc. now owns 96,021 shares of the oil and gas producer’s stock worth $1,196,000 after buying an additional 94,021 shares during the period. 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.