PermRock Royalty Trust (PRT) Expected to Announce Quarterly Earnings on Friday

PermRock Royalty Trust (NYSE:PRT) is expected to be announcing its results before the market opens on Friday, March 27th. Analysts expect the company to announce earnings of $0.0858 per share and revenue of $4.93 million for the quarter.

PermRock Royalty Trust Trading Down 0.7%

PermRock Royalty Trust stock traded down $0.03 during mid-day trading on Wednesday, hitting $3.34. 25,608 shares of the company’s stock were exchanged, compared to its average volume of 53,500. The stock has a market cap of $40.59 million, a P/E ratio of 7.94 and a beta of 0.72. PermRock Royalty Trust has a 1-year low of $2.61 and a 1-year high of $4.42. The stock has a 50 day moving average of $3.37 and a two-hundred day moving average of $3.60.

PermRock Royalty Trust Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.003 per share. This represents a c) annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, March 31st. PermRock Royalty Trust’s dividend payout ratio is 30.95%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in PermRock Royalty Trust stock. Jane Street Group LLC bought a new position in PermRock Royalty Trust (NYSE:PRT) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 19,023 shares of the company’s stock, valued at approximately $53,000. Jane Street Group LLC owned 0.16% of PermRock Royalty Trust at the end of the most recent reporting period. 41.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised PermRock Royalty Trust to a “hold” rating in a report on Saturday.

About PermRock Royalty Trust

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.