PermRock Royalty Trust (NYSE:PRT) Shares Down 3.7% – What’s Next?

Shares of PermRock Royalty Trust (NYSE:PRT) fell 3.7% on Friday . The stock traded as low as $2.02 and last traded at $2.06. Approximately 33,911 shares traded hands during mid-day trading, an increase of 51% from the average daily volume of 22,501 shares. The stock had previously closed at $2.14.

PermRock Royalty Trust Stock Down 3.7%

The firm has a market cap of $25.07 million, a P/E ratio of 8.96 and a beta of 0.41. The business has a fifty day simple moving average of $2.21 and a 200-day simple moving average of $2.58.

PermRock Royalty Trust (NYSE:PRT) last announced its earnings results on Friday, August 14th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06). The business had revenue of $0.71 million for the quarter, compared to the consensus estimate of $4.93 million. PermRock Royalty Trust had a net margin of 77.46% and a return on equity of 7.72%.

PermRock Royalty Trust Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a dividend of $0.0218 per share. This represents a c) dividend on an annualized basis and a yield of 12.7%. The ex-dividend date of this dividend is Monday, August 31st. PermRock Royalty Trust’s dividend payout ratio (DPR) is 113.04%.

Institutional Investors Weigh In On PermRock Royalty Trust

A hedge fund 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 its most recent filing with the Securities & Exchange Commission. The firm bought 19,023 shares of the company’s stock, valued at approximately $53,000. Jane Street Group LLC owned about 0.16% of PermRock Royalty Trust as of its most recent filing with the Securities & Exchange Commission. 41.67% of the stock is owned by institutional investors and hedge funds.

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.