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

Permian Basin Royalty Trust (NYSE:PBT) announced a dividend on Friday, December 20th,NASDAQ Dividends reports. Stockholders 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 of this dividend is Tuesday, December 31st.

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

Permian Basin Royalty Trust Trading Up 1.8 %

Shares of NYSE:PBT traded up $0.20 during mid-day trading on Friday, reaching $11.17. The company had a trading volume of 250,504 shares, compared to its average volume of 133,253. The company’s 50-day moving average price is $12.19 and its 200-day moving average price is $11.64. Permian Basin Royalty Trust has a one year low of $10.14 and a one year high of $15.79. The firm has a market cap of $520.63 million, a price-to-earnings ratio of 14.32 and a beta of 0.66.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Permian Basin Royalty Trust from a “hold” rating to a “buy” rating in a research report on Wednesday.

Permian Basin Royalty Trust Company Profile

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.