Permian Basin Royalty Trust (NYSE:PBT) Announces $0.02 Monthly Dividend

Permian Basin Royalty Trust (NYSE:PBT) declared a monthly dividend on Monday, November 18th,Wall Street Journal reports. Shareholders of record on Friday, November 29th will be paid a dividend of 0.0217 per share by the oil and gas producer on Friday, December 13th. This represents a $0.26 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Friday, November 29th.

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

Permian Basin Royalty Trust Price Performance

Shares of Permian Basin Royalty Trust stock opened at $13.14 on Wednesday. Permian Basin Royalty Trust has a 52-week low of $10.14 and a 52-week high of $18.49. The firm has a 50-day moving average of $11.85 and a 200-day moving average of $11.65.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Permian Basin Royalty Trust from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th.

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.