PermRock Royalty Trust (NYSE:PRT) Announces Earnings Results

PermRock Royalty Trust (NYSE:PRT) released its quarterly earnings results on Friday. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06), Zacks reports. The company had revenue of $0.71 million for 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 Stock Down 1.4%

Shares of NYSE:PRT traded down $0.03 during trading on Friday, reaching $2.19. The stock had a trading volume of 30,955 shares, compared to its average volume of 27,403. The stock has a fifty day simple moving average of $2.22 and a two-hundred day simple moving average of $2.76. The firm has a market capitalization of $26.64 million, a price-to-earnings ratio of 7.30 and a beta of 0.40. PermRock Royalty Trust has a 52 week low of $1.82 and a 52 week high of $4.12.

PermRock Royalty Trust Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a dividend of $0.0226 per share. This represents a c) annualized dividend and a yield of 12.4%. The ex-dividend date was Friday, July 31st. PermRock Royalty Trust’s dividend payout ratio (DPR) is 90.00%.

Institutional Investors Weigh In On PermRock Royalty Trust

An institutional investor recently bought a new stake in PermRock Royalty Trust stock. Jane Street Group LLC bought a new stake in shares of PermRock Royalty Trust (NYSE:PRT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 19,023 shares of the company’s stock, valued at approximately $53,000. Jane Street Group LLC owned 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.

PermRock Royalty Trust Company Profile

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.