Permian Basin Royalty Trust (PBT) to Issue Monthly Dividend of $0.02 on December 13th

Permian Basin Royalty Trust (NYSE:PBT) announced a monthly dividend on Monday, November 18th,Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 1.98%. The ex-dividend date is Friday, November 29th.

Permian Basin Royalty Trust has increased its dividend by an average of 36.7% per year over the last three years.

Permian Basin Royalty Trust Trading Up 2.4 %

Shares of PBT stock opened at $13.14 on Wednesday. The company has a fifty day moving average price of $11.85 and a two-hundred day moving average price of $11.65. Permian Basin Royalty Trust has a one year low of $10.14 and a one year high of $18.49.

Analyst Ratings Changes

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