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

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) announced a monthly dividend on Tuesday, February 18th, Wall Street Journal reports. Stockholders of record on Friday, February 28th will be given a dividend of 0.0171 per share by the oil and gas producer on Friday, March 14th. This represents a $0.21 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Friday, February 28th.

Permian Basin Royalty Trust has increased its dividend by an average of 28.8% annually over the last three years.

Permian Basin Royalty Trust Stock Down 2.4 %

Shares of NYSE PBT traded down $0.27 during trading hours on Friday, hitting $11.06. The company had a trading volume of 97,570 shares, compared to its average volume of 117,870. Permian Basin Royalty Trust has a 1-year low of $10.14 and a 1-year high of $14.58. The firm's 50 day moving average is $11.32 and its 200-day moving average is $11.61. The stock has a market capitalization of $515.51 million, a P/E ratio of 14.18 and a beta of 0.70.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Permian Basin Royalty Trust from a "buy" rating to a "hold" rating in a research note on Thursday.

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.