Permian Basin Royalty Trust (NYSE:PBT) Plans Dividend Increase - $0.02 Per Share

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) declared a monthly dividend on Friday, March 21st, NASDAQ Dividends reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.018 per share by the oil and gas producer on Monday, April 14th. This represents a $0.22 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Monday, March 31st. This is a 5.5% increase from Permian Basin Royalty Trust's previous monthly dividend of $0.02.

Permian Basin Royalty Trust has raised its dividend payment by an average of 28.8% per year over the last three years.

Permian Basin Royalty Trust Stock Performance

Shares of NYSE:PBT traded down $0.22 during midday trading on Tuesday, hitting $10.12. 66,371 shares of the stock were exchanged, compared to its average volume of 130,846. The business's 50-day moving average price is $10.80 and its 200 day moving average price is $11.49. The stock has a market capitalization of $471.68 million, a price-to-earnings ratio of 12.97 and a beta of 0.72. Permian Basin Royalty Trust has a 12 month low of $9.43 and a 12 month high of $14.26.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last announced its quarterly earnings results on Friday, March 14th. The oil and gas producer reported $0.08 earnings per share (EPS) for the quarter. Permian Basin Royalty Trust had a net margin of 96.32% and a return on equity of 17,811.24%. The firm had revenue of $3.79 million during the quarter.

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Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Permian Basin Royalty Trust from a "buy" rating to a "hold" rating in a report on Thursday, February 20th.

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.