Permian Basin Royalty Trust (NYSE:PBT) Increases Dividend to $0.04 Per Share

Key Points

• Permian Basin Royalty Trust announced a monthly dividend of $0.0436 per share, payable on August 14 to shareholders of record on July 31. That is a 76.6% increase from its previous $0.02 monthly dividend.
• The new dividend implies an annualized yield of about 1.8%, and the trust has only increased its dividend by an average of 0.1% annually over the last three years.
• The stock was up 0.4% on the day to $28.79, with the company also reporting last quarter EPS of $0.06 and revenue of $3.57 million.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) announced a monthly dividend on Tuesday, July 21st. Investors of record on Friday, July 31st will be paid a dividend of 0.0436 per share by the oil and gas producer on Friday, August 14th. This represents a c) annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, July 31st. This is a 76.6% increase from Permian Basin Royalty Trust's previous monthly dividend of $0.02.

Permian Basin Royalty Trust has increased its dividend by an average of 0.1%annually over the last three years.

Permian Basin Royalty Trust Trading Up 0.4%

NYSE:PBT traded up $0.11 on Tuesday, reaching $28.79. 90,622 shares of the stock traded hands, compared to its average volume of 127,382. Permian Basin Royalty Trust has a 1-year low of $12.60 and a 1-year high of $32.25. The company's 50 day moving average is $27.55 and its 200-day moving average is $22.79. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 89.98 and a beta of 0.48.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter. Permian Basin Royalty Trust had a net margin of 88.99% and a return on equity of 9,061.81%. The firm had revenue of $3.57 million for the quarter.

Institutional Trading of Permian Basin Royalty Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its holdings in shares of Permian Basin Royalty Trust by 6.0% in the 4th quarter. Royal Bank of Canada now owns 9,802 shares of the oil and gas producer's stock worth $166,000 after purchasing an additional 558 shares during the period. HighTower Advisors LLC grew its holdings in Permian Basin Royalty Trust by 0.8% during the fourth quarter. HighTower Advisors LLC now owns 71,697 shares of the oil and gas producer's stock valued at $1,217,000 after purchasing an additional 604 shares during the period. CX Institutional grew its holdings in 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 valued at $53,000 after purchasing an additional 939 shares during the period. NewEdge Advisors LLC increased its position in Permian Basin Royalty Trust by 53.1% in the second quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer's stock worth $47,000 after buying an additional 1,304 shares during the last quarter. Finally, Welch Group LLC raised its stake in shares of Permian Basin Royalty Trust by 8.4% in the first quarter. Welch Group LLC now owns 19,298 shares of the oil and gas producer's stock valued at $415,000 after buying an additional 1,500 shares during the period. 28.86% of the stock is owned by institutional investors.

Permian Basin Royalty Trust Company Profile

Permian Basin Royalty Trust NYSE: PBT is a passive investment vehicle that holds overriding royalty interests in oil and gas properties located in the Permian Basin region of West Texas. Established in 1980 by Apache Oil Company, the Trust does not engage in exploration or production activities. Instead, it owns net profit interests on specified acreage, allowing unitholders to participate directly in the cash flows generated by hydrocarbon extraction without bearing the costs or risks associated with day-to-day field operations.

The Trust’s interests cover acreage predominantly in Reeves and Loving Counties, where mature wells have been developed over several decades.

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