PermRock Royalty Trust (NYSE:PRT) Shares Down 1.1% – What’s Next?

PermRock Royalty Trust (NYSE:PRT)’s share price fell 1.1% during trading on Friday. The stock traded as low as $1.75 and last traded at $1.77. 32,806 shares changed hands during trading, an increase of 2% from the average session volume of 32,165 shares. The stock had previously closed at $1.79.

PermRock Royalty Trust Trading Down 1.1%

The company has a market cap of $21.54 million, a price-to-earnings ratio of 7.70 and a beta of 0.45. The stock has a 50 day moving average price of $2.10 and a two-hundred day moving average price of $2.38.

PermRock Royalty Trust (NYSE:PRT) last announced its quarterly earnings data on Friday, August 14th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06). 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 7.72% and a net margin of 77.46%.

PermRock Royalty Trust Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.0196 per share. This represents a $0.24 annualized dividend and a dividend yield of 13.3%. The ex-dividend date is Wednesday, September 30th. This is a decrease from PermRock Royalty Trust’s previous monthly dividend of $0.0218. PermRock Royalty Trust’s dividend payout ratio is presently 104.35%.

Institutional Trading of PermRock Royalty Trust

A hedge fund recently bought a new position in PermRock Royalty Trust stock. Cetera Investment Advisers purchased a new stake in PermRock Royalty Trust (NYSE:PRT) during the first quarter, according to its most recent filing with the SEC. The firm purchased 15,353 shares of the company’s stock, valued at approximately $51,000. Cetera Investment Advisers owned 0.13% of PermRock Royalty Trust at the end of the most recent reporting period. 41.67% of the stock is currently owned by institutional investors.

About PermRock Royalty Trust

PermRock Royalty Trust (NYSE:PRT) is a grantor trust that owns a net profits interest in oil and natural gas properties located in the Permian Basin of West Texas. The trust was established in 2017 in connection with the public offering of its trust units.

PermRock’s assets consist primarily of mature, producing conventional oil and natural gas properties. The properties are operated on behalf of the trust by Boaz Energy, LLC and its affiliates, which are responsible for development and production activities.