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

Permian Basin Royalty Trust (NYSE:PBT) announced a monthly dividend on Friday, April 19th, investing.com reports. Stockholders of record on Tuesday, April 30th will be paid a dividend of 0.0882 per share by the oil and gas producer on Tuesday, May 14th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 8.73%. The ex-dividend date of this dividend is Monday, April 29th.

Permian Basin Royalty Trust has raised its dividend by an average of 36.7% annually over the last three years.

Permian Basin Royalty Trust Stock Performance

PBT stock opened at $12.13 on Friday. Permian Basin Royalty Trust has a fifty-two week low of $10.95 and a fifty-two week high of $27.15. The company has a market cap of $565.38 million, a price-to-earnings ratio of 20.22 and a beta of 0.59. The business’s 50-day moving average is $12.75 and its two-hundred day moving average is $15.33.

Permian Basin Royalty Trust (NYSE:PBT) last announced its quarterly earnings data on Thursday, February 29th. The oil and gas producer reported $0.31 earnings per share (EPS) for the quarter. The firm had revenue of $14.44 million during the quarter. Permian Basin Royalty Trust had a net margin of 96.16% and a return on equity of 13,667.19%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sowell Financial Services LLC purchased a new position in shares of Permian Basin Royalty Trust during the first quarter valued at about $1,934,000. Morgan Stanley raised its holdings in shares of Permian Basin Royalty Trust by 157.7% during the 4th quarter. Morgan Stanley now owns 241,720 shares of the oil and gas producer’s stock worth $6,091,000 after acquiring an additional 147,931 shares in the last quarter. Pathstone Holdings LLC bought a new position in shares of Permian Basin Royalty Trust during the 4th quarter valued at approximately $1,402,000. BNP Paribas Arbitrage SA purchased a new position in shares of Permian Basin Royalty Trust in the first quarter valued at $1,073,000. Finally, Beacon Pointe Advisors LLC increased its position in 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 worth $4,400,000 after purchasing an additional 61,260 shares during the last quarter. 28.86% of the stock is currently owned by institutional investors.

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.