PermRock Royalty Trust (NYSE:PRT) was the target of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 1,500 shares, a decline of 94.7% from the July 31st total of 28,400 shares. Based on an average trading volume of 40,300 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the shares of the stock are short sold.

PermRock Royalty Trust stock traded up $0.02 during mid-day trading on Wednesday, reaching $7.22. 53,000 shares of the company’s stock traded hands, compared to its average volume of 54,201. The company has a market cap of $87.62 million, a price-to-earnings ratio of 5.64 and a beta of 1.84. The stock has a 50 day moving average of $7.38 and a two-hundred day moving average of $8.13. PermRock Royalty Trust has a 12-month low of $5.45 and a 12-month high of $13.30.

The firm also recently disclosed a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.84 annualized dividend and a yield of 11.63%. PermRock Royalty Trust’s dividend payout ratio (DPR) is currently 65.63%.

An institutional investor recently raised its position in PermRock Royalty Trust stock. BB&T Securities LLC lifted its holdings in PermRock Royalty Trust (NYSE:PRT) by 54.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,300 shares of the company’s stock after buying an additional 11,400 shares during the period. BB&T Securities LLC owned about 0.27% of PermRock Royalty Trust worth $256,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 53.36% of the company’s stock.

Several brokerages have recently issued reports on PRT. ValuEngine raised PermRock Royalty Trust from a “strong sell” rating to a “sell” rating in a report on Thursday, August 1st. Zacks Investment Research downgraded PermRock Royalty Trust from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 24th.

About PermRock Royalty Trust

PermRock Royalty Trust owns 80% net profits interest in the oil and natural gas production properties acquired by Boaz Energy II, LLC in the Permian Basin, Texas. The company was founded in 2017 and is based in Fort Worth, Texas.

Further Reading: Net Margin

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