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. Shareholders 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 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 Price Performance

Shares of NYSE:PBT traded up $0.20 during trading on Friday, reaching $11.17. 250,504 shares of the stock were exchanged, compared to its average volume of 133,253. Permian Basin Royalty Trust has a 1-year low of $10.14 and a 1-year high of $15.79. The stock has a fifty day moving average of $12.19 and a two-hundred day moving average of $11.64. 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 Analysts Forecast Growth

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

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.