PermRock Royalty Trust (NYSE:PRT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of PermRock Royalty Trust (NYSE:PRT) to a hold rating in a research note issued to investors on Saturday morning.

PermRock Royalty Trust Price Performance

PRT opened at $3.33 on Friday. The company has a fifty day moving average price of $3.36 and a 200-day moving average price of $3.60. The firm has a market capitalization of $40.53 million, a P/E ratio of 7.93 and a beta of 0.72. PermRock Royalty Trust has a one year low of $2.61 and a one year high of $4.42.

PermRock Royalty Trust Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st will be issued a $0.003 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 1.1%. PermRock Royalty Trust’s dividend payout ratio (DPR) is presently 30.95%.

Institutional Trading of PermRock Royalty Trust

A hedge fund recently bought a new stake in PermRock Royalty Trust stock. Ameriflex Group Inc. acquired a new position in shares of PermRock Royalty Trust (NYSE:PRT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,000 shares of the company’s stock, valued at approximately $40,000. Ameriflex Group Inc. owned approximately 0.08% of PermRock Royalty Trust at the end of the most recent quarter. 41.67% of the stock is currently owned by hedge funds and other institutional investors.

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.