Permian Basin Royalty Trust (NYSE:PBT) declared a monthly dividend on Tuesday, July 20th, Zacks reports. Investors of record on Friday, July 30th will be paid a dividend of 0.021 per share by the oil and gas producer on Friday, August 13th. This represents a $0.25 annualized dividend and a dividend yield of 4.99%. The ex-dividend date of this dividend is Thursday, July 29th. This is a positive change from Permian Basin Royalty Trust’s previous monthly dividend of $0.01.
Permian Basin Royalty Trust has decreased its dividend by 62.6% over the last three years and has raised its dividend every year for the last 1 years.
Shares of PBT opened at $5.05 on Thursday. Permian Basin Royalty Trust has a 52-week low of $2.11 and a 52-week high of $5.71. The company has a 50 day simple moving average of $4.88. The firm has a market cap of $235.38 million, a price-to-earnings ratio of 16.19 and a beta of 1.18.
A hedge fund recently raised its stake in Permian Basin Royalty Trust stock. Morgan Stanley grew its position in shares of Permian Basin Royalty Trust (NYSE:PBT) by 154.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 123,558 shares of the oil and gas producer’s stock after acquiring an additional 74,957 shares during the quarter. Morgan Stanley owned 0.27% of Permian Basin Royalty Trust worth $492,000 at the end of the most recent reporting period. 9.49% of the stock is owned by hedge funds and other institutional investors.
About Permian Basin Royalty Trust
Permian Basin Royalty Trust, an express trust, holds overriding royalty interests in various oil and gas properties in the United States. The company owns a 75% net overriding royalty interest in the Waddell Ranch properties comprising Dune, Judkins, McKnight, Tubb, Devonian, and Waddell fields located in Crane County, Texas.
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