PermRock Royalty Trust (NYSE:PRT – Get Free Report) announced a monthly dividend on Tuesday, July 21st. Investors of record on Friday, July 31st will be paid a dividend of 0.0226 per share on Friday, August 14th. This represents a c) annualized dividend and a yield of 12.8%. The ex-dividend date of this dividend is Friday, July 31st.
PermRock Royalty Trust has raised its dividend by an average of 0.2%per year over the last three years.
PermRock Royalty Trust Price Performance
PRT opened at $2.12 on Wednesday. The stock’s 50 day simple moving average is $2.19 and its 200 day simple moving average is $2.83. The firm has a market cap of $25.86 million, a price-to-earnings ratio of 7.08 and a beta of 0.39. PermRock Royalty Trust has a 1 year low of $1.82 and a 1 year high of $4.14.
Institutional Investors 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 PermRock Royalty Trust (NYSE:PRT – Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent SEC filing. Hedge funds and other 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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