PermRock Royalty Trust (NYSE:PRT) Issues Earnings Results

PermRock Royalty Trust (NYSE:PRTGet Free Report) announced its quarterly earnings results on Thursday. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.14), Zacks reports. PermRock Royalty Trust had a return on equity of 7.94% and a net margin of 84.04%.The business had revenue of $0.66 million for the quarter, compared to analyst estimates of $6.43 million.

PermRock Royalty Trust Trading Down 1.3%

NYSE:PRT traded down $0.04 during mid-day trading on Friday, hitting $2.68. 113,578 shares of the company’s stock traded hands, compared to its average volume of 60,115. The firm has a 50 day moving average of $3.12 and a two-hundred day moving average of $3.38. PermRock Royalty Trust has a 12 month low of $2.61 and a 12 month high of $4.28. The firm has a market capitalization of $32.54 million, a price-to-earnings ratio of 6.86 and a beta of 0.52.

PermRock Royalty Trust Cuts Dividend

The business also recently declared 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. This represents a c) annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Thursday, April 30th.

Wall Street Analyst Weigh In

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

Get Our Latest Report on PermRock Royalty Trust

Hedge Funds Weigh In On PermRock Royalty Trust

An institutional investor recently bought a new position in PermRock Royalty Trust stock. Jane Street Group LLC purchased a new position in shares of PermRock Royalty Trust (NYSE:PRTFree Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 19,023 shares of the company’s stock, valued at approximately $53,000. Jane Street Group LLC owned about 0.16% of PermRock Royalty Trust at the end of the most recent reporting period. 41.67% of the stock is currently owned by institutional investors and hedge funds.

PermRock Royalty Trust Company Profile

(Get Free Report)

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.

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Earnings History for PermRock Royalty Trust (NYSE:PRT)

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