PermRock Royalty Trust (NYSE:PRT) Sees Large Drop in Short Interest

PermRock Royalty Trust (NYSE:PRT) was the recipient of a large decline in short interest in the month of April. As of April 30th, there was short interest totaling 86,989 shares, a decline of 34.3% from the April 15th total of 132,489 shares. Approximately 0.7% of the company’s shares are short sold. Based on an average trading volume of 74,905 shares, the short-interest ratio is currently 1.2 days.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of PermRock Royalty Trust to a “hold” rating in a research note on Saturday, March 21st.

Institutional Trading of PermRock Royalty Trust

Several institutional investors have recently made changes to their positions in PRT. Jane Street Group LLC purchased a new stake in shares of PermRock Royalty Trust during the 4th quarter valued at $53,000. Cetera Investment Advisers purchased a new stake in shares of PermRock Royalty Trust during the 1st quarter valued at $51,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of PermRock Royalty Trust during the 3rd quarter valued at $40,000. 41.67% of the stock is owned by hedge funds and other institutional investors.

PermRock Royalty Trust Stock Performance

PRT stock opened at $2.68 on Monday. The stock has a market capitalization of $32.54 million, a P/E ratio of 8.92 and a beta of 0.52. PermRock Royalty Trust has a one year low of $2.61 and a one year high of $4.28. The company has a 50 day moving average price of $3.10 and a two-hundred day moving average price of $3.37.

PermRock Royalty Trust (NYSE:PRT) last released its earnings results on Thursday, May 14th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.06). The firm had revenue of $0.66 million during the quarter, compared to analysts’ expectations of $4.93 million. PermRock Royalty Trust had a return on equity of 7.59% and a net margin of 80.38%.

PermRock Royalty Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were paid a dividend of $0.0005 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 0.2%.

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.