PermRock Royalty Trust (PRT) Projected to Post Quarterly Earnings on Tuesday

PermRock Royalty Trust (NYSE:PRT) is projected to announce its results before the market opens on Tuesday, May 19th. Analysts expect the company to announce earnings of $0.0858 per share and revenue of $4.93 million for the quarter.

PermRock Royalty Trust (NYSE:PRT) last released its quarterly earnings results on Friday, March 27th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.01). PermRock Royalty Trust had a net margin of 84.04% and a return on equity of 7.94%. The firm had revenue of $1.07 million during the quarter, compared to analyst estimates of $4.93 million.

PermRock Royalty Trust Price Performance

PRT opened at $2.70 on Tuesday. The business’s 50-day moving average price is $3.16 and its two-hundred day moving average price is $3.40. PermRock Royalty Trust has a 1 year low of $2.61 and a 1 year high of $4.28. The company has a market capitalization of $32.88 million, a price-to-earnings ratio of 6.93 and a beta of 0.52.

PermRock Royalty Trust Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th will be paid a $0.0005 dividend. The ex-dividend date of this dividend is Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 0.2%. PermRock Royalty Trust’s dividend payout ratio (DPR) is currently 2.56%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On PermRock Royalty Trust

A hedge fund recently bought a new stake in PermRock Royalty Trust stock. Jane Street Group LLC acquired a new stake in PermRock Royalty Trust (NYSE:PRT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 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 reporting period. Institutional investors and hedge funds own 41.67% of the company’s stock.

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.