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

Permian Basin Royalty Trust (NYSE:PBT) announced a monthly dividend on Tuesday, November 19th,Wall Street Journal reports. Investors 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 annualized dividend and a dividend yield of 2.00%. The ex-dividend date 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 Stock Up 1.7 %

Shares of NYSE PBT traded up $0.22 on Tuesday, hitting $13.02. The company’s stock had a trading volume of 105,167 shares, compared to its average volume of 127,220. The stock has a 50 day moving average of $11.64 and a 200-day moving average of $11.60. Permian Basin Royalty Trust has a 12-month low of $10.14 and a 12-month high of $19.18.

Analyst Upgrades and Downgrades

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