PermRock Royalty Trust (NYSE:PRT) Issues Quarterly Earnings Results

PermRock Royalty Trust (NYSE:PRT) announced its quarterly earnings data on Friday. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.06), Zacks reports. The company had revenue of $0.71 million for the quarter, compared to analyst estimates 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 Stock Performance

NYSE:PRT opened at $2.19 on Friday. The company has a market capitalization of $26.65 million, a price-to-earnings ratio of 9.52 and a beta of 0.40. PermRock Royalty Trust has a one year low of $1.82 and a one year high of $4.12. The stock has a 50-day simple moving average of $2.22 and a 200 day simple moving average of $2.76.

PermRock Royalty Trust Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were paid a $0.0226 dividend. This represents a c) dividend on an annualized basis and a yield of 12.4%. The ex-dividend date was Friday, July 31st. PermRock Royalty Trust’s dividend payout ratio (DPR) is 90.00%.

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) in 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 approximately 0.16% of PermRock Royalty Trust at the end of the most recent quarter. 41.67% of the stock is owned by institutional investors and hedge funds.

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.