Permian Basin Royalty Trust, an express trust, holds overriding royalty interests in various oil and gas properties in the United States. The company owns a 75% net overriding royalty interest in the Waddell Ranch properties comprising Dune, Judkins, McKnight, Tubb, Devonian, and Waddell fields located in Crane County, Texas. As of December 31, 2021, the Waddell Ranch properties contained 268 net productive oil wells, 38 net productive gas wells, and 50 net injection wells. The company also holds a 95% net overriding royalty in the Texas Royalty properties, which consist of various producing oil fields, such as Yates, Wasson, Sand Hills, East Texas, Kelly-Snyder, Panhandle Regular, N. Cowden, Todd, Keystone, Kermit, McElroy, Howard-Glasscock, Seminole, and others located in 33 counties in Texas. Its Texas Royalty properties comprised approximately 125 separate royalty interests containing approximately 51,000 net producing acres. Permian Basin Royalty Trust was founded in 1980 and is based in Dallas, Texas.
Permian Basin Royalty Trust Trading Up 3.5 %
Shares of PBT traded up $0.66 on Thursday, reaching $19.70. The company's stock had a trading volume of 287,344 shares, compared to its average volume of 289,912. Permian Basin Royalty Trust has a twelve month low of $5.07 and a twelve month high of $23.08. The firm has a fifty day moving average of $18.07 and a 200-day moving average of $15.04.
Permian Basin Royalty Trust (NYSE:PBT - Get Rating) last posted its earnings results on Monday, May 16th. The oil and gas producer reported $0.08 earnings per share for the quarter. Permian Basin Royalty Trust had a net margin of 91.67% and a return on equity of 3,610.01%. The company had revenue of $4.08 million for the quarter.
Permian Basin Royalty Trust Increases Dividend
The company also recently disclosed a monthly dividend, which will be paid on Friday, August 12th. Shareholders of record on Friday, July 29th will be paid a $0.164 dividend. This is a positive change from Permian Basin Royalty Trust's previous monthly dividend of $0.09. The ex-dividend date of this dividend is Thursday, July 28th. This represents a $1.97 annualized dividend and a yield of 9.99%.
Analysts Set New Price Targets
Separately, TheStreet upgraded shares of Permian Basin Royalty Trust from a "c" rating to a "b" rating in a report on Friday, May 20th.