Permian Basin Royalty Trust (PBT) to Distribute Monthly Dividend of $0.02 on July 15th

Permian Basin Royalty Trust (NYSE:PBTGet Free Report) announced a monthly dividend on Thursday, June 18th. Investors of record on Tuesday, June 30th will be given a dividend of 0.0247 per share by the oil and gas producer on Wednesday, July 15th. This represents a c) annualized dividend and a yield of 1.2%. The ex-dividend date is Tuesday, June 30th. This is a 21.2% increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.02.

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

Permian Basin Royalty Trust Stock Up 0.4%

NYSE PBT opened at $25.07 on Friday. The stock’s 50-day simple moving average is $25.96 and its two-hundred day simple moving average is $21.49. Permian Basin Royalty Trust has a twelve month low of $11.78 and a twelve month high of $32.25. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 78.34 and a beta of 0.49.

Permian Basin Royalty Trust (NYSE:PBTGet Free Report) last announced its quarterly earnings data on Thursday, May 14th. The oil and gas producer reported $0.06 earnings per share for the quarter. The company had revenue of $3.57 million for the quarter. Permian Basin Royalty Trust had a return on equity of 9,061.81% and a net margin of 88.99%.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Permian Basin Royalty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 21st. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Check Out Our Latest Research Report on PBT

About Permian Basin Royalty Trust

(Get Free Report)

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.

Further Reading

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

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