PermRock Royalty Trust (NYSE:PRT) Issues Quarterly Earnings Results

PermRock Royalty Trust (NYSE:PRT) released its quarterly earnings results on Friday. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.01), Zacks reports. The business had revenue of $1.07 million for the quarter, compared to the consensus estimate of $4.93 million. PermRock Royalty Trust had a net margin of 85.31% and a return on equity of 7.24%.

PermRock Royalty Trust Trading Up 1.1%

PRT stock traded up $0.04 during trading on Friday, hitting $3.34. The company had a trading volume of 25,901 shares, compared to its average volume of 53,958. The business has a 50-day moving average of $3.38 and a 200-day moving average of $3.59. PermRock Royalty Trust has a one year low of $2.61 and a one year high of $4.38. The stock has a market cap of $40.59 million, a PE ratio of 7.94 and a beta of 0.72.

PermRock Royalty Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 31st will be paid a $0.003 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, March 31st. PermRock Royalty Trust’s payout ratio is currently 30.95%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of PermRock Royalty Trust to a “hold” rating in a research note on Saturday, March 21st.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in PermRock Royalty Trust stock. Jane Street Group LLC acquired a new stake in PermRock Royalty Trust (NYSE:PRT) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 19,023 shares of the company’s stock, valued at approximately $53,000. Jane Street Group LLC owned 0.16% of PermRock Royalty Trust at the end of the most recent reporting period. 41.67% of the stock is currently owned by hedge funds and other 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.