PermRock Royalty Trust (NYSE:PRT) Trading Down 3.7% – Here’s What Happened

PermRock Royalty Trust (NYSE:PRTGet Free Report) fell 3.7% on Friday . The stock traded as low as $2.02 and last traded at $2.06. Approximately 33,911 shares were traded during mid-day trading, an increase of 51% from the average session volume of 22,501 shares. The stock had previously closed at $2.14.

PermRock Royalty Trust Stock Performance

The business has a 50 day simple moving average of $2.21 and a 200-day simple moving average of $2.58. The firm has a market cap of $25.07 million, a price-to-earnings ratio of 8.96 and a beta of 0.41.

PermRock Royalty Trust (NYSE:PRTGet Free Report) last posted its earnings results on Friday, August 14th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06). The company had revenue of $0.71 million during the quarter, compared to the consensus estimate of $4.93 million. PermRock Royalty Trust had a net margin of 77.46% and a return on equity of 7.72%.

PermRock Royalty Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.0218 per share. The ex-dividend date is Monday, August 31st. This represents a c) annualized dividend and a yield of 12.7%. PermRock Royalty Trust’s dividend payout ratio (DPR) is 113.04%.

Institutional Trading of PermRock Royalty Trust

A hedge fund recently bought a new stake in PermRock Royalty Trust stock. Jane Street Group LLC purchased a new stake in shares of PermRock Royalty Trust (NYSE:PRTFree Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 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 own 41.67% of the company’s stock.

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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