StockNews.com initiated coverage on shares of Permian Basin Royalty Trust (NYSE:PBT – Get Rating) in a research note issued to investors on Thursday. The firm issued a hold rating on the oil and gas producer’s stock.
Permian Basin Royalty Trust Price Performance
NYSE:PBT opened at $22.83 on Thursday. The company has a market cap of $1.06 billion, a PE ratio of 19.85 and a beta of 0.88. Permian Basin Royalty Trust has a one year low of $11.40 and a one year high of $25.99. The firm’s 50 day simple moving average is $24.03 and its 200 day simple moving average is $21.31.
Permian Basin Royalty Trust Increases Dividend
The company also recently declared a monthly dividend, which was paid on Tuesday, March 14th. Stockholders of record on Tuesday, February 28th were given a $0.041 dividend. The ex-dividend date of this dividend was Monday, February 27th. This represents a $0.49 dividend on an annualized basis and a dividend yield of 2.16%. This is an increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.04. Permian Basin Royalty Trust’s payout ratio is 43.48%.
Institutional Inflows and Outflows
About Permian Basin Royalty Trust
Permian Basin Royalty Trust is a trust of Argent Trust Company. Its properties include Waddell Ranch and Texas Royalty. The company was founded on November 1, 1980 and is headquartered in Dallas, TX.
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