PermRock Royalty Trust (NYSE:PRT) Shares Up 1.2% – Should You Buy?

PermRock Royalty Trust (NYSE:PRT)’s share price rose 1.2% during trading on Monday . The company traded as high as $2.16 and last traded at $2.1040. Approximately 27,259 shares were traded during trading, a decline of 65% from the average daily volume of 77,606 shares. The stock had previously closed at $2.08.

Analysts Set New Price Targets

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

PermRock Royalty Trust Price Performance

The stock has a market cap of $25.61 million, a price-to-earnings ratio of 7.01 and a beta of 0.43. The stock has a fifty day moving average of $2.70 and a 200 day moving average of $3.17.

PermRock Royalty Trust (NYSE:PRT) last released its earnings results on Thursday, May 14th. The company reported $0.03 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 firm had revenue of $0.66 million for the quarter, compared to analyst estimates of $4.93 million.

PermRock Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be issued a dividend of $0.0027 per share. This represents a c) dividend on an annualized basis and a dividend yield of 1.5%. This is a positive change from PermRock Royalty Trust’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Friday, May 29th. PermRock Royalty Trust’s dividend payout ratio is presently 10.00%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Jane Street Group LLC acquired a new position in PermRock Royalty Trust in the fourth quarter valued at approximately $53,000. Cetera Investment Advisers acquired a new position in PermRock Royalty Trust in the first quarter valued at approximately $51,000. Finally, Ameriflex Group Inc. acquired a new position in PermRock Royalty Trust in the third quarter valued at approximately $40,000. 41.67% of the stock is owned by institutional investors and hedge funds.

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.