PermRock Royalty Trust (NYSE:PRT – Get Free Report) released its earnings results on Friday. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.06), Zacks reports. PermRock Royalty Trust had a net margin of 80.38% and a return on equity of 7.59%.
PermRock Royalty Trust Trading Down 1.4%
Shares of NYSE PRT traded down $0.03 during midday trading on Friday, reaching $2.19. The company’s stock had a trading volume of 30,955 shares, compared to its average volume of 56,965. PermRock Royalty Trust has a fifty-two week low of $1.82 and a fifty-two week high of $4.12. The stock has a market capitalization of $26.65 million, a price-to-earnings ratio of 7.30 and a beta of 0.40. The stock has a 50 day simple moving average of $2.22 and a 200-day simple moving average of $2.76.
PermRock Royalty Trust Cuts Dividend
The firm also recently disclosed a monthly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be issued a $0.0226 dividend. The ex-dividend date is Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 12.4%. PermRock Royalty Trust’s dividend payout ratio (DPR) is 90.00%.
Institutional Inflows and Outflows
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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