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

PermRock Royalty Trust (NYSE:PRT) announced a monthly dividend on Tuesday, October 20th. Stockholders of record on Friday, October 30th will be paid a dividend of $0.0162 per share on Monday, November 16th. This represents a $0.19 dividend on an annualized basis and a dividend yield of 12.3%. The ex-dividend date is Friday, October 30th. This is a 17.4% decrease from PermRock Royalty Trust’s previous monthly dividend of $0.0196.

PermRock Royalty Trust has increased its dividend payment by an average of 0.2% annually over the last three years.

PermRock Royalty Trust Price Performance

Shares of NYSE PRT opened at $1.58 on Wednesday. PermRock Royalty Trust has a 1 year low of $1.58 and a 1 year high of $4.01. The stock has a market capitalization of $19.28 million, a P/E ratio of 6.87 and a beta of 0.45. The company’s 50-day moving average is $2.03 and its 200 day moving average is $2.30.

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

About PermRock Royalty Trust

PermRock Royalty Trust (NYSE:PRT) is a grantor trust that owns a net profits interest in oil and natural gas properties located in the Permian Basin of West Texas. The trust was established in 2017 in connection with the public offering of its trust units.

PermRock’s assets consist primarily of mature, producing conventional oil and natural gas properties. The properties are operated on behalf of the trust by Boaz Energy, LLC and its affiliates, which are responsible for development and production activities.