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

Permian Basin Royalty Trust (NYSE:PBT) declared a monthly dividend on Wednesday, February 19th,Wall Street Journal reports. Investors of record on Friday, February 28th will be given a dividend of 0.0171 per share by the oil and gas producer on Friday, March 14th. This represents a $0.21 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Friday, February 28th.

Permian Basin Royalty Trust has raised its dividend payment by an average of 28.8% per year over the last three years.

Permian Basin Royalty Trust Trading Up 2.5 %

NYSE PBT traded up $0.29 on Wednesday, hitting $11.61. The company’s stock had a trading volume of 134,912 shares, compared to its average volume of 119,491. Permian Basin Royalty Trust has a 52-week low of $10.14 and a 52-week high of $14.58. The company’s 50-day simple moving average is $11.40 and its 200 day simple moving average is $11.61. The firm has a market cap of $540.96 million, a P/E ratio of 14.88 and a beta of 0.70.

Analyst Ratings Changes

Separately, StockNews.com upgraded Permian Basin Royalty Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th.

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.