PermRock Royalty Trust (NYSE:PRT) Shares Up 2.8%

Shares of PermRock Royalty Trust (NYSE:PRT) rose 2.8% on Friday . The stock traded as high as $4.14 and last traded at $4.11. Approximately 36,514 shares were traded during trading, a decline of 15% from the average daily volume of 42,805 shares. The stock had previously closed at $4.00.

PermRock Royalty Trust Trading Up 2.8 %

The company has a market capitalization of $50.02 million, a PE ratio of 8.06 and a beta of 0.93. The firm has a fifty day moving average of $4.32 and a two-hundred day moving average of $4.75.

PermRock Royalty Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were issued a $0.023 dividend. This represents a $0.28 annualized dividend and a yield of 6.72%. The ex-dividend date of this dividend was Wednesday, March 27th. PermRock Royalty Trust’s dividend payout ratio (DPR) is currently 54.90%.

Institutional Investors Weigh In On PermRock Royalty Trust

Institutional investors and hedge funds have recently bought and sold shares of the business. Commonwealth Equity Services LLC purchased a new stake in PermRock Royalty Trust in the 3rd quarter worth approximately $75,000. Royal Bank of Canada lifted its stake in shares of PermRock Royalty Trust by 50.5% in the 2nd quarter. Royal Bank of Canada now owns 29,200 shares of the company’s stock valued at $159,000 after purchasing an additional 9,800 shares during the period. Susquehanna International Group LLP purchased a new position in shares of PermRock Royalty Trust in the 1st quarter valued at approximately $131,000. Morgan Stanley lifted its stake in shares of PermRock Royalty Trust by 25.3% in the 4th quarter. Morgan Stanley now owns 16,043 shares of the company’s stock valued at $124,000 after purchasing an additional 3,239 shares during the period. Finally, Jane Street Group LLC purchased a new position in shares of PermRock Royalty Trust in the 3rd quarter valued at approximately $93,000. Hedge funds and other institutional investors own 41.67% of the company’s stock.

About PermRock Royalty Trust

PermRock Royalty Trust operates as a statutory trust. It owns perpetual interests in the oil and natural gas producing properties. The company's underlying properties include 22,731 net acres in the Permian Basin. The company was founded in 2017 and is based in Dallas, Texas.