Permian Basin Royalty Trust (PBT) to Issue Monthly Dividend of $0.09 on May 14th

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 8.71%. 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 opened at $12.15 on Friday. The stock has a market capitalization of $566.31 million, a price-to-earnings ratio of 20.25 and a beta of 0.59. The company has a fifty day moving average of $12.75 and a 200 day moving average of $15.29. Permian Basin Royalty Trust has a fifty-two week low of $10.95 and a fifty-two week high of $27.15.

Permian Basin Royalty Trust (NYSE:PBT) last posted its earnings results on Thursday, February 29th. The oil and gas producer reported $0.31 earnings per share for the quarter. The company 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%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

Several institutional investors have recently bought and sold shares of PBT. Advisor Group Holdings Inc. grew its stake in Permian Basin Royalty Trust by 1,052.3% during the first quarter. Advisor Group Holdings Inc. now owns 41,496 shares of the oil and gas producer’s stock valued at $210,000 after acquiring an additional 37,895 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in Permian Basin Royalty Trust by 108.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 52,536 shares of the oil and gas producer’s stock valued at $657,000 after acquiring an additional 27,329 shares in the last quarter. HighTower Advisors LLC purchased a new position in shares of Permian Basin Royalty Trust in the 1st quarter worth $148,000. Sowell Financial Services LLC purchased a new position in shares of Permian Basin Royalty Trust in the 1st quarter worth $1,934,000. Finally, PEAK6 Investments LLC purchased a new position in shares of Permian Basin Royalty Trust in the 1st quarter worth $143,000. 28.86% of the stock is owned by hedge funds and other 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.