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

Permian Basin Royalty Trust (NYSE:PBT) declared a monthly dividend on Wednesday, February 19th,Wall Street Journal reports. Investors of record on Friday, February 28th will be paid a dividend of 0.0171 per share by the oil and gas producer on Friday, March 14th. This represents a $0.21 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Friday, February 28th.

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

Permian Basin Royalty Trust Price Performance

NYSE PBT traded up $0.29 during trading hours on Wednesday, reaching $11.61. 134,912 shares of the company’s stock traded hands, compared to its average volume of 119,491. Permian Basin Royalty Trust has a 52-week low of $10.14 and a 52-week high of $14.58. The firm has a market cap of $540.96 million, a PE ratio of 14.88 and a beta of 0.70. The firm has a 50-day simple moving average of $11.40 and a 200 day simple moving average of $11.61.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Permian Basin Royalty Trust from a “hold” rating to a “buy” rating in a report on Wednesday, February 12th.

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.