PermRock Royalty Trust (NYSE:PRT) Increases Dividend to $0.03 Per Share

PermRock Royalty Trust (NYSE:PRT – Get Free Report) declared a monthly dividend on Thursday, June 18th. Stockholders of record on Tuesday, June 30th will be given a dividend of 0.0305 per share on Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 15.8%. The ex-dividend date is Tuesday, June 30th. This is a 1,044.3% increase from PermRock Royalty Trust’s previous monthly dividend of $0.002664.

PermRock Royalty Trust has raised its dividend payment by an average of 0.2%per year over the last three years.

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PermRock Royalty Trust Price Performance

Shares of PRT traded up $0.11 during trading hours on Thursday, reaching $2.32. 144,181 shares of the company’s stock traded hands, compared to its average volume of 64,852. The firm has a market capitalization of $28.21 million, a price-to-earnings ratio of 7.73 and a beta of 0.42. PermRock Royalty Trust has a twelve month low of $1.82 and a twelve month high of $4.28. The business’s fifty day simple moving average is $2.53 and its two-hundred day simple moving average is $3.08.

PermRock Royalty Trust (NYSE:PRT – Get Free Report) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.06). The company had revenue of $0.66 million during 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 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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