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

Permian Basin Royalty Trust (NYSE:PBT) announced a monthly dividend on Monday, November 18th,Wall Street Journal reports. Stockholders of record on Friday, November 29th will be paid a dividend of 0.0217 per share by the oil and gas producer on Friday, December 13th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, November 29th.

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

Permian Basin Royalty Trust Stock Performance

Shares of NYSE:PBT opened at $13.20 on Thursday. The business has a 50 day moving average of $11.88 and a 200-day moving average of $11.65. Permian Basin Royalty Trust has a 12-month low of $10.14 and a 12-month high of $17.99.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Permian Basin Royalty Trust from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th.

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.