Shares of PermRock Royalty Trust (NYSE:PRT – Get Free Report) fell 1.1% during trading on Tuesday . The company traded as low as $2.18 and last traded at $2.2050. Approximately 9,140 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 28,061 shares. The stock had previously closed at $2.23.
PermRock Royalty Trust Stock Performance
The business’s 50-day moving average is $2.22 and its two-hundred day moving average is $2.78. The firm has a market capitalization of $26.83 million, a price-to-earnings ratio of 7.35 and a beta of 0.40.
PermRock Royalty Trust (NYSE:PRT – Get Free Report) last issued its quarterly earnings data on Thursday, May 14th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06). The firm had revenue of $0.66 million for the quarter, compared to analyst estimates 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 Cuts Dividend
Institutional Trading of PermRock Royalty Trust
An institutional investor recently bought a new stake in PermRock Royalty Trust stock. Cetera Investment Advisers bought a new position in shares of PermRock Royalty Trust (NYSE:PRT – Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 15,353 shares of the company’s stock, valued at approximately $51,000. Cetera Investment Advisers owned approximately 0.13% of PermRock Royalty Trust at the end of the most recent quarter. Institutional investors 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.
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