Permian Basin Royalty Stock To Go Ex-dividend Tomorrow (PBT)

NEW YORK ( TheStreet) -- The ex-dividend date for Permian Basin Royalty (NYSE: PBT) is tomorrow, January 27, 2012. Owners of shares as of market close today will be eligible for a dividend of 13 cents per share. At a price of $20.70 as of 9:30 a.m. ET, the dividend yield is 7.4%.

The average volume for Permian Basin Royalty has been 155,900 shares per day over the past 30 days. Permian Basin Royalty has a market cap of $956.4 million and is part of the basic materials sector and energy industry. Shares are up 1.3% year to date as of the close of trading on Wednesday.

Permian Basin Royalty Trust owns overriding royalty rights in mineral properties in the United States. The company has a P/E ratio of 15.1, equal to the average energy industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

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 and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full Permian Basin Royalty Ratings Report.

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