NEW YORK ( TheStreet) -- The ex-dividend date for Permian Basin Royalty (NYSE: PBT) is Monday, August 29, 2011. Owners of shares as of market close today will be eligible for a dividend of 12 cents per share. At a price of $21.63 as of 9:30 a.m. ET, the dividend yield is 6.5%.

The average volume for Permian Basin Royalty has been 226,700 shares per day over the past 30 days. Permian Basin Royalty has a market cap of $1 billion and is part of the financial sector and financial services industry. Shares are down 4.5% year to date as of the close of trading on Thursday.

Permian Basin Royalty Trust owns overriding royalty rights in mineral properties in the United States. The company has a P/E ratio of 15.7, below the average financial services industry P/E ratio of 15.8 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 largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Permian Basin Royalty Ratings Report.

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