Permian Basin Royalty Trust to Issue Dividend of $0.02 (NYSE:PBT)

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) announced a dividend on Friday, December 20th,NASDAQ Dividends reports. Investors of record on Tuesday, December 31st will be paid a dividend of 0.0219 per share by the oil and gas producer on Wednesday, January 15th. The ex-dividend date is Tuesday, December 31st.

Permian Basin Royalty Trust has increased its dividend payment by an average of 36.7% per year over the last three years.

Permian Basin Royalty Trust Stock Performance

NYSE PBT traded up $0.20 on Friday, reaching $11.17. 250,504 shares of the stock traded hands, compared to its average volume of 133,253. Permian Basin Royalty Trust has a 12 month low of $10.14 and a 12 month high of $15.79. The company has a fifty day moving average price of $12.19 and a 200-day moving average price of $11.64. The company has a market cap of $520.63 million, a price-to-earnings ratio of 14.32 and a beta of 0.66.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Permian Basin Royalty Trust from a "hold" rating to a "buy" rating in a report on Wednesday.

About Permian Basin Royalty Trust

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.