PermRock Royalty Trust (NYSE:PRT) Plans Monthly Dividend of $0.02

PermRock Royalty Trust (NYSE:PRT) announced a monthly dividend on Tuesday, January 20th. Shareholders of record on Friday, January 30th will be paid a dividend of 0.0194 per share on Friday, February 13th. This represents a c) dividend on an annualized basis and a yield of 7.7%. The ex-dividend date is Friday, January 30th. This is a 18.2% increase from PermRock Royalty Trust’s previous monthly dividend of $0.02.

PermRock Royalty Trust has decreased its dividend payment by an average of 0.1%annually over the last three years.

PermRock Royalty Trust Trading Down 2.1%

PRT stock traded down $0.07 during midday trading on Tuesday, hitting $3.01. 92,199 shares of the company’s stock were exchanged, compared to its average volume of 72,990. The firm has a 50 day moving average price of $3.50 and a 200-day moving average price of $3.80. PermRock Royalty Trust has a 12-month low of $2.61 and a 12-month high of $4.63. The stock has a market capitalization of $36.57 million, a price-to-earnings ratio of 7.15 and a beta of 0.74.

PermRock Royalty Trust (NYSE:PRT) last released its quarterly earnings results on Thursday, November 13th. The company reported $0.09 earnings per share for the quarter. The business had revenue of $1.26 million during the quarter. PermRock Royalty Trust had a net margin of 85.31% and a return on equity of 7.24%.

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.