PermRock Royalty Trust (NYSE:PRT) saw a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 18,600 shares, a growth of 93.8% from the April 30th total of 9,600 shares. Based on an average daily trading volume, of 43,300 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.3% of the company’s shares are short sold.

Institutional investors and hedge funds have recently made changes to their positions in the business. BB&T Securities LLC acquired a new position in PermRock Royalty Trust during the fourth quarter worth approximately $98,000. Stifel Financial Corp increased its position in PermRock Royalty Trust by 95.7% during the fourth quarter. Stifel Financial Corp now owns 51,675 shares of the company’s stock worth $304,000 after buying an additional 25,275 shares during the last quarter. Finally, Quad Cities Investment Group LLC acquired a new position in PermRock Royalty Trust during the first quarter worth approximately $49,000. Institutional investors and hedge funds own 53.55% of the company’s stock.

PRT traded down $0.05 during midday trading on Monday, reaching $7.92. The company’s stock had a trading volume of 141 shares, compared to its average volume of 53,074. The company has a market capitalization of $96.14 million and a price-to-earnings ratio of 6.19. PermRock Royalty Trust has a 1 year low of $5.45 and a 1 year high of $16.38. The company’s 50-day simple moving average is $8.61.

PermRock Royalty Trust (NYSE:PRT) last announced its quarterly earnings data on Wednesday, May 15th. The company reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.37). The business had revenue of $6.74 million for the quarter, compared to analyst estimates of $8.27 million. On average, equities analysts predict that PermRock Royalty Trust will post 1.16 EPS for the current year.

The firm also recently disclosed a monthly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a $0.09 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 13.64%. The ex-dividend date was Thursday, May 30th. This is a boost from PermRock Royalty Trust’s previous monthly dividend of $0.05. PermRock Royalty Trust’s dividend payout ratio is 84.38%.

Several equities analysts recently issued reports on the stock. ValuEngine cut shares of PermRock Royalty Trust from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 1st. Zacks Investment Research cut shares of PermRock Royalty Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, March 27th.

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PermRock Royalty Trust Company Profile

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.

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