Permian Basin Royalty Trust (NYSE:PBT) to Issue $0.02 Monthly Dividend

Permian Basin Royalty Trust (NYSE:PBT) announced a monthly dividend on Friday, August 21st. Investors of record on Monday, August 31st will be paid a dividend of 0.0187 per share by the oil and gas producer on Tuesday, September 15th. This represents a c) annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st.

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

Permian Basin Royalty Trust Price Performance

Shares of PBT opened at $34.31 on Friday. Permian Basin Royalty Trust has a 1-year low of $15.73 and a 1-year high of $35.50. The stock has a market cap of $1.60 billion, a PE ratio of 98.03 and a beta of 0.48. The firm has a fifty day moving average price of $28.66 and a 200 day moving average price of $24.99.

Permian Basin Royalty Trust (NYSE:PBT) last posted its earnings results on Thursday, August 13th. The oil and gas producer reported $0.08 EPS for the quarter. The business had revenue of $4.18 million for the quarter. Permian Basin Royalty Trust had a return on equity of 9,990.08% and a net margin of 91.96%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

Several institutional investors have recently bought and sold shares of PBT. SoftVest Advisors LLC boosted its holdings in shares of 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 valued at $77,335,000 after acquiring an additional 1,776,929 shares in the last quarter. Sei Investments Co. increased its position in Permian Basin Royalty Trust by 116.0% during the 1st quarter. Sei Investments Co. now owns 422,000 shares of the oil and gas producer’s stock worth $9,081,000 after purchasing an additional 226,600 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Permian Basin Royalty Trust by 2,233.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 104,298 shares of the oil and gas producer’s stock worth $1,300,000 after buying an additional 99,829 shares in the last quarter. UBS Group AG boosted its stake in shares of Permian Basin Royalty Trust by 170.1% in the third quarter. UBS Group AG now owns 147,578 shares of the oil and gas producer’s stock valued at $2,693,000 after buying an additional 92,936 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC raised its position in Permian Basin Royalty Trust by 1.5% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 6,187,800 shares of the oil and gas producer’s stock worth $105,069,000 after acquiring an additional 88,751 shares in the last quarter. 28.86% of the stock is owned by institutional investors and hedge funds.

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.