Permian Basin Royalty Trust (PBT) Raises Dividend to $0.05 Per Share
Permian Basin Royalty Trust (NYSE:PBT) announced a monthly dividend on Monday, October 23rd, Wall Street Journal reports. Shareholders of record on Tuesday, October 31st will be paid a dividend of 0.054 per share by the oil and gas producer on Tuesday, November 14th. This represents a $0.65 dividend on an annualized basis and a yield of 7.10%. The ex-dividend date of this dividend is Monday, October 30th. This is an increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.04.
Permian Basin Royalty Trust has decreased its dividend payment by an average of 24.6% annually over the last three years.
Shares of Permian Basin Royalty Trust (NYSE:PBT) traded down 0.22% during mid-day trading on Monday, reaching $9.12. The company’s stock had a trading volume of 52,500 shares. The company’s 50-day moving average is $8.75 and its 200-day moving average is $9.10. The stock has a market capitalization of $425.06 million, a price-to-earnings ratio of 14.38 and a beta of 0.66. Permian Basin Royalty Trust has a 52 week low of $6.66 and a 52 week high of $10.30.
Permian Basin Royalty Trust (NYSE:PBT) last released its quarterly earnings data on Wednesday, August 9th. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter. Permian Basin Royalty Trust had a net margin of 95.38% and a return on equity of 4,964.71%. The company had revenue of $7.48 million during the quarter.
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Separately, BidaskClub upgraded shares of Permian Basin Royalty Trust from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 23rd.
Permian Basin Royalty Trust Company Profile
Permian Basin Royalty Trust is an express trust. The Company’s Waddell Ranch Properties has mineral interests in the Waddell Ranch. Its Waddell Ranch properties have proved reserves in six fields: Dune, Sand Hills (Judkins), Sand Hills (McKnight), Sand Hills (Tubb), University-Waddell (Devonian) and Waddell.
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