PermRock Royalty Trust (NYSE:PRT) Plans $0.02 Monthly Dividend

PermRock Royalty Trust (NYSE:PRT) announced a monthly dividend on Friday, August 21st. Stockholders of record on Monday, August 31st will be given a dividend of 0.0218 per share on Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 11.9%. The ex-dividend date of this dividend is Monday, August 31st.

PermRock Royalty Trust has raised its dividend by an average of 0.2%per year over the last three years.

PermRock Royalty Trust Stock Performance

Shares of NYSE PRT traded down $0.04 during mid-day trading on Friday, reaching $2.20. 37,362 shares of the company traded hands, compared to its average volume of 56,182. The stock has a market cap of $26.77 million, a PE ratio of 9.57 and a beta of 0.40. The company’s fifty day moving average is $2.23 and its two-hundred day moving average is $2.72. PermRock Royalty Trust has a fifty-two week low of $1.82 and a fifty-two week high of $4.12.

PermRock Royalty Trust (NYSE:PRT) last issued its quarterly earnings data on Friday, August 14th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06). PermRock Royalty Trust had a net margin of 77.46% and a return on equity of 7.72%. The company had revenue of $0.71 million during the quarter, compared to the consensus estimate of $4.93 million.

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.