PermRock Royalty Trust (NYSE:PRT) Sees Significant Increase in Short Interest

PermRock Royalty Trust (NYSE:PRT) was the recipient of a large growth in short interest in May. As of May 29th, there was short interest totaling 111,144 shares, a growth of 57.1% from the May 14th total of 70,738 shares. Currently, 0.9% of the company’s stock are sold short. Based on an average trading volume of 97,272 shares, the short-interest ratio is presently 1.1 days.

PermRock Royalty Trust Price Performance

PRT stock traded down $0.02 during trading hours on Wednesday, reaching $2.12. The stock had a trading volume of 21,785 shares, compared to its average volume of 63,712. The stock has a market capitalization of $25.74 million, a PE ratio of 7.05 and a beta of 0.42. The stock has a 50-day simple moving average of $2.55 and a 200 day simple moving average of $3.09. PermRock Royalty Trust has a fifty-two week low of $1.82 and a fifty-two week high of $4.28.

PermRock Royalty Trust (NYSE:PRT) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06). The firm had revenue of $0.66 million during the quarter, compared to analyst estimates of $4.93 million. PermRock Royalty Trust had a net margin of 80.38% and a return on equity of 7.59%.

PermRock Royalty Trust Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were issued a dividend of $0.0027 per share. This represents a c) dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, May 29th. This is a boost from PermRock Royalty Trust’s previous monthly dividend of $0.00. PermRock Royalty Trust’s payout ratio is presently 10.00%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Ameriflex Group Inc. acquired a new position in shares of PermRock Royalty Trust during the 3rd quarter worth approximately $40,000. Cetera Investment Advisers acquired a new position in shares of PermRock Royalty Trust during the 1st quarter worth approximately $51,000. Finally, Jane Street Group LLC acquired a new position in shares of PermRock Royalty Trust during the 4th quarter worth approximately $53,000. 41.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded PermRock Royalty Trust to a “hold” rating in a research note on Saturday, March 21st.

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.