Permian Basin Royalty Trust said on July 21, 2023 that its board of directors declared a regular monthly dividend of $0.02 per share ($0.26 annualized). Previously, the company paid $0.05 per share.
Shareholders of record as of July 31, 2023 will receive the payment on August 14, 2023.
At the current share price of $23.58 / share, the stock's dividend yield is 1.11%.
Looking back five years and taking a sample every week, the average dividend yield has been 6.92%, the lowest has been 1.44%, and the highest has been 17.70%. The standard deviation of yields is 3.76 (n=236).
The current dividend yield is 1.55 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 1.00. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 2.22%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 98 funds or institutions reporting positions in Permian Basin Royalty Trust. This is an increase of 6 owner(s) or 6.52% in the last quarter. Average portfolio weight of all funds dedicated to PBT is 0.65%, an increase of 19.64%. Total shares owned by institutions increased in the last three months by 6.64% to 15,043K shares. 
The put/call ratio of PBT is 0.25, indicating a bullish outlook.
What are Other Shareholders Doing?
SoftVest Advisors holds 4,148K shares representing 8.90% ownership of the company. No change in the last quarter.
Horizon Kinetics Asset Management holds 4,038K shares representing 8.66% ownership of the company. In it's prior filing, the firm reported owning 3,745K shares, representing an increase of 7.27%. The firm increased its portfolio allocation in PBT by 21.49% over the last quarter.
INFL - Horizon Kinetics Inflation Beneficiaries ETF holds 1,208K shares representing 2.59% ownership of the company. In it's prior filing, the firm reported owning 1,049K shares, representing an increase of 13.16%. The firm increased its portfolio allocation in PBT by 22.27% over the last quarter.
Foundation Resource Management holds 686K shares representing 1.47% ownership of the company. In it's prior filing, the firm reported owning 688K shares, representing a decrease of 0.31%. The firm increased its portfolio allocation in PBT by 2.42% over the last quarter.
UBS Group holds 540K shares representing 1.16% ownership of the company. In it's prior filing, the firm reported owning 574K shares, representing a decrease of 6.31%. The firm decreased its portfolio allocation in PBT by 10.86% over the last quarter.
Permian Basin Royalty Trust Background Information
(This description is provided by the company.)
The Permian Basin Royalty Trust’s (the “Trust”) principal assets are comprised of a 75% net overriding royalty interest carved out by Southland Royalty Company (“Southland”) from its fee mineral interest in the Waddell Ranch properties in Crane County, Texas (“Waddell Ranch properties”), and a 95% net overriding royalty interest carved out by Southland from its major producing royalty properties in Texas (“Texas Royalty properties”). The interests out of which the Trust’s net overriding royalty interests were carved were in all cases less than 100%. The Trust’s net overriding royalty interests represent burdens against the properties in favor of the Trust without regard to ownership of the properties from which the overriding royalty interests were carved. The net overriding royalties above are collectively referred to as the “Royalties.” The properties and interests from which the Royalties were carved and which the Royalties now burden are collectively referred to as the “Underlying Properties.”
Additional reading:
- PERMIAN BASIN ROYALTY TRUST ANNOUNCES JULY CASH DISTRIBUTION
- PERMIAN BASIN ROYALTY TRUST ANNOUNCES JUNE CASH DISTRIBUTION
- PERMIAN BASIN ROYALTY TRUST ANNOUNCES MAY CASH DISTRIBUTION
- PERMIAN BASIN ROYALTY TRUST ANNOUNCES APRIL CASH DISTRIBUTION
- PERMIAN BASIN ROYALTY TRUST ANNOUNCES MARCH CASH DISTRIBUTION
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
