PermRock Royalty Trust (NYSE:PRT) Stock Price Up 1.2% – Here’s Why

PermRock Royalty Trust (NYSE:PRT)’s stock price traded up 1.2% during mid-day trading on Monday . The company traded as high as $2.16 and last traded at $2.1040. 27,259 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 77,606 shares. The stock had previously closed at $2.08.

Wall Street Analyst Weigh In

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

PermRock Royalty Trust Price Performance

The company has a market capitalization of $25.61 million, a price-to-earnings ratio of 7.01 and a beta of 0.43. The stock has a fifty day simple moving average of $2.70 and a 200-day simple moving average of $3.17.

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

PermRock Royalty Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be given a $0.0027 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 1.5%. This is a boost from PermRock Royalty Trust’s previous monthly dividend of $0.00. The ex-dividend date is Friday, May 29th. PermRock Royalty Trust’s dividend payout ratio (DPR) is presently 10.00%.

Institutional Trading of PermRock Royalty Trust

Institutional investors and hedge funds have recently made changes to their positions in the business. Jane Street Group LLC purchased a new stake in shares of PermRock Royalty Trust in the fourth quarter valued at approximately $53,000. Cetera Investment Advisers purchased a new stake in shares of PermRock Royalty Trust in the first quarter valued at approximately $51,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of PermRock Royalty Trust in the third quarter valued at approximately $40,000. 41.67% of the stock is currently owned by hedge funds and other institutional investors.

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.