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

Permian Basin Royalty Trust (NYSE:PBT) 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 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Friday, February 28th.

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

Permian Basin Royalty Trust Stock Up 2.5 %

Shares of Permian Basin Royalty Trust stock traded up $0.29 during trading on Wednesday, hitting $11.61. 134,912 shares of the company were exchanged, compared to its average volume of 119,491. Permian Basin Royalty Trust has a fifty-two week low of $10.14 and a fifty-two week high of $14.58. The stock has a market capitalization of $540.96 million, a price-to-earnings ratio of 14.88 and a beta of 0.70. The firm has a 50 day moving average price of $11.40 and a 200 day moving average price of $11.61.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Permian Basin Royalty Trust from a “hold” rating to a “buy” rating in a research 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.