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

Key Points

• Permian Basin Royalty Trust declared a monthly dividend of $0.0196 per share, payable October 15 to shareholders of record September 30. The payment is reported as a 4.8% increase from the prior dividend and implies a 0.7% annualized yield.
• PBT shares rose to $35.12, near the company’s 52-week high of $37.00, with the stock trading above its 50-day and 200-day moving averages.
• The trust reported quarterly earnings of $0.08 per share on $4.18 million in revenue, while institutional investors and hedge funds own approximately 28.9% of its shares.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) announced a monthly dividend on Friday, September 18th. Stockholders of record on Wednesday, September 30th will be paid a dividend of 0.0196 per share by the oil and gas producer on Thursday, October 15th. This represents a c) annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 30th. This is a 4.8% increase from Permian Basin Royalty Trust's previous monthly dividend of $0.02.

Permian Basin Royalty Trust has raised its dividend by an average of 0.1%per year over the last three years.

Permian Basin Royalty Trust Price Performance

Shares of NYSE PBT traded up $0.27 during midday trading on Friday, hitting $35.12. The company's stock had a trading volume of 248,973 shares, compared to its average volume of 128,306. The business's fifty day simple moving average is $32.15 and its two-hundred day simple moving average is $27.12. Permian Basin Royalty Trust has a 1 year low of $16.25 and a 1 year high of $37.00. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 100.36 and a beta of 0.50.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last announced its earnings results on Thursday, August 13th. The oil and gas producer reported $0.08 earnings per share for the quarter. The firm had revenue of $4.18 million for the quarter. Permian Basin Royalty Trust had a net margin of 91.96% and a return on equity of 9,990.08%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

A number of hedge funds have recently bought and sold shares of the stock. CX Institutional grew its position in shares of Permian Basin Royalty Trust by 80.3% during the second quarter. CX Institutional now owns 2,109 shares of the oil and gas producer's stock worth $53,000 after buying an additional 939 shares in the last quarter. NewEdge Advisors LLC raised its holdings in Permian Basin Royalty Trust by 25.1% in the second quarter. NewEdge Advisors LLC now owns 3,493 shares of the oil and gas producer's stock valued at $87,000 after acquiring an additional 701 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Permian Basin Royalty Trust in the second quarter worth approximately $114,000. Post Resch Tallon Group Inc. purchased a new position in Permian Basin Royalty Trust in the second quarter worth approximately $210,000. Finally, Tidal Investments LLC purchased a new position in Permian Basin Royalty Trust in the second quarter worth approximately $211,000. Institutional investors and hedge funds own 28.86% of the company's stock.

About Permian Basin Royalty Trust

Permian Basin Royalty Trust is a grantor trust that holds interests in oil and natural gas properties located in the Permian Basin of West Texas. The trust does not operate wells or directly market hydrocarbons; instead, it receives royalty and overriding royalty income from production associated with its underlying properties.

The trust's interests primarily include properties in the Waddell Ranch area of Crane County, Texas, along with other royalty properties in the state. Revenue is derived from the sale of crude oil, natural gas and natural gas liquids produced by the operators of these properties.

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