PermRock Royalty Trust (NYSE:PRT) Short Interest Update

PermRock Royalty Trust (NYSE:PRT) saw a large drop in short interest during the month of April. As of April 30th, there was short interest totaling 86,989 shares, a drop of 34.3% from the April 15th total of 132,489 shares. Based on an average daily trading volume, of 74,905 shares, the short-interest ratio is presently 1.2 days. Approximately 0.7% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Cetera Investment Advisers purchased a new position in PermRock Royalty Trust in the first quarter valued at about $51,000. Jane Street Group LLC purchased a new position in PermRock Royalty Trust in the fourth quarter valued at about $53,000. Finally, Ameriflex Group Inc. purchased a new position in PermRock Royalty Trust in the third quarter valued at about $40,000. Hedge funds and other institutional investors own 41.67% of the company’s stock.

PermRock Royalty Trust Stock Performance

Shares of NYSE PRT remained flat at $2.56 during mid-day trading on Tuesday. The company had a trading volume of 73,725 shares, compared to its average volume of 60,189. The firm has a market cap of $31.16 million, a PE ratio of 8.53 and a beta of 0.52. PermRock Royalty Trust has a 1-year low of $2.55 and a 1-year high of $4.28. The firm’s 50 day simple moving average is $3.09 and its 200 day simple moving average is $3.36.

PermRock Royalty Trust (NYSE:PRT) last announced its earnings results on Thursday, May 14th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06). PermRock Royalty Trust had a return on equity of 7.59% and a net margin of 80.38%.The company had revenue of $0.66 million for the quarter, compared to analyst estimates of $4.93 million.

PermRock Royalty Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.0027 per share. This is a positive change from PermRock Royalty Trust’s previous monthly dividend of $0.00. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, May 29th. PermRock Royalty Trust’s dividend payout ratio is presently 3.33%.

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.