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

Permian Basin Royalty Trust (NYSE:PBT) declared a monthly dividend on Monday, November 18th,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 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Friday, November 29th.

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

Permian Basin Royalty Trust Price Performance

Shares of PBT traded up $0.21 during midday trading on Tuesday, reaching $13.01. The stock had a trading volume of 110,789 shares, compared to its average volume of 127,245. The company’s fifty day simple moving average is $11.64 and its two-hundred day simple moving average is $11.60. Permian Basin Royalty Trust has a 1-year low of $10.14 and a 1-year high of $19.18.

Analyst Ratings Changes

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