Permian Basin Royalty Trust (PBT) shares gained 0.23% to trade at $4.29 in pre-market. Earlier, PBT’s stock gained 4.65% to close Monday’s session at $4.28. PBT shares have risen 30.89% over the last 12 months, and they have moved up only 2.64% in the past week. Over the past six months, it has added 71.20%.
Cash Distribution announcement
On April 20, 2021, Simmons Bank, as Trustee of the Permian Basin Royalty Trust announced April 2021 cash distribution to the holders of its units of beneficial interest of $0.018156 per unit, payable on May 14, 2021, to unitholders of record on April 30, 2021.
On March 19, 2021, Simmons Bank, as Trustee of the Permian Basin Royalty Trust declared March 2021 cash distribution to the holders of its units of beneficial interest of $0.011525 per unit, payable on April 14, 2021, to unitholders of record on March 31, 2021.
Covid-19 and oil price effect on PBT
As we know that the world is stalled due to the Covid-19 pandemic which resulted in the lowest demand for oil and gas throughout the world in history. All oil and gas companies are struggling and the same is the case with PBT. The low cash dividend announcement for the recent month is proving PBT struggling.
What we can expect in near future?
Well, the vaccination campaign is gaining momentum all over the world which could ease the travelling restrictions and oil and gas prices can start climbing soon. Many countries have allowed international travels recently for those who are already vaccinated. We can see a bright future ahead for PBT and other energy companies.
About the company
The Permian Basin Royalty Trust is a United States oil and natural gas royalty trust, founded in 1980 and is based in Dallas, Texas. With a market capitalization of US $790,000,000, and with an average daily trading volume of about 186,000 shares, it was one of the largest royalty trusts in the United States.