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

Permian Basin Royalty Trust (NYSE:PBT) declared a monthly dividend on Monday, November 18th,Wall Street Journal reports. Stockholders of record on Friday, November 29th will be given a dividend of 0.0217 per share by the oil and gas producer on Friday, December 13th. This represents a $0.26 dividend on an annualized basis 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% per year over the last three years.

Permian Basin Royalty Trust Stock Performance

PBT stock opened at $13.01 on Wednesday. Permian Basin Royalty Trust has a 1-year low of $10.14 and a 1-year high of $19.18. The business has a 50-day moving average price of $11.68 and a 200 day moving average price of $11.61.

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.

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.