PermRock Royalty Trust (NYSE:PRT) Trading Down 0.4% – Here’s What Happened

PermRock Royalty Trust (NYSE:PRT)’s stock price fell 0.4% during trading on Tuesday . The company traded as low as $3.60 and last traded at $3.6570. 35,707 shares were traded during mid-day trading, a decline of 42% from the average session volume of 61,088 shares. The stock had previously closed at $3.67.

PermRock Royalty Trust Stock Performance

The firm has a market cap of $44.51 million, a price-to-earnings ratio of 8.71 and a beta of 0.79. The company has a 50 day moving average price of $3.34 and a 200 day moving average price of $3.73.

PermRock Royalty Trust (NYSE:PRT) last issued its quarterly earnings data on Thursday, November 13th. The company reported $0.09 earnings per share (EPS) for the quarter. The firm had revenue of $1.26 million during the quarter. PermRock Royalty Trust had a return on equity of 7.24% and a net margin of 85.31%.

PermRock Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be paid a $0.0194 dividend. This is a positive change from PermRock Royalty Trust’s previous monthly dividend of $0.02. The ex-dividend date of this dividend is Friday, January 30th. This represents a c) dividend on an annualized basis and a dividend yield of 6.4%. PermRock Royalty Trust’s payout ratio is presently 54.76%.

Institutional Inflows and Outflows

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

About PermRock Royalty Trust

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.