NEW YORK ( TheStreet) -- The ex-dividend date for Permian Basin Royalty (NYSE: PBT) is tomorrow, June 28, 2011. Owners of shares as of market close today will be eligible for a dividend of 14 cents per share. At a price of $21.25 as of 9:31 a.m. ET, the dividend yield is 8.1%.

The average volume for Permian Basin Royalty has been 198,300 shares per day over the past 30 days. Permian Basin Royalty has a market cap of $988.1 million and is part of the financial sector and financial services industry. Shares are down 6% year to date as of the close of trading on Friday.

Permian Basin Royalty Trust owns overriding royalty rights in mineral properties in the United States. The company has a P/E ratio of 15.4, equal to the average financial services industry P/E ratio and below the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates Permian Basin Royalty as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins and increase in stock price during the past year. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full Permian Basin Royalty Ratings Report.

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