PermRock Royalty Trust (NYSE:PRT) to Issue Dividend Increase – $0.02 Per Share

PermRock Royalty Trust (NYSE:PRT) announced a monthly dividend on Tuesday, January 20th. Investors of record on Friday, January 30th will be paid a dividend of 0.0194 per share on Friday, February 13th. This represents a c) annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend is Friday, January 30th. This is a 18.2% increase from PermRock Royalty Trust’s previous monthly dividend of $0.02.

PermRock Royalty Trust has decreased its dividend by an average of 0.1%annually over the last three years.

PermRock Royalty Trust Trading Down 2.1%

NYSE:PRT opened at $3.01 on Wednesday. The company has a market capitalization of $36.57 million, a P/E ratio of 7.15 and a beta of 0.74. The firm has a 50-day moving average price of $3.49 and a two-hundred day moving average price of $3.79. PermRock Royalty Trust has a twelve month low of $2.61 and a twelve month high of $4.63.

PermRock Royalty Trust (NYSE:PRT) last issued its earnings results on Thursday, November 13th. The company reported $0.09 earnings per share (EPS) for the quarter. PermRock Royalty Trust had a return on equity of 7.24% and a net margin of 85.31%.The business had revenue of $1.26 million during the quarter.

PermRock Royalty Trust Company Profile

PermRock Royalty Trust is an unincorporated statutory trust established in 2018 by PDC Energy under Delaware law to hold non-operated royalty interests in oil and natural gas properties. The trust’s assets derive from a portfolio of mineral and royalty interests originally contributed by PDC Energy, primarily focused on the Delaware Basin of West Texas. As a royalty trust, PermRock does not engage in drilling or field operations but instead receives royalty income from production generated by third-party operators.

The core business activity of PermRock revolves around collecting and distributing net profits interest and mineral royalty payments from producing wells.