PermRock Royalty Trust (PRT) Research Coverage Started at Stifel Nicolaus

Stifel Nicolaus assumed coverage on shares of PermRock Royalty Trust (NYSE:PRT) in a research report released on Tuesday, May 29th, Marketbeat reports. The brokerage issued a buy rating and a $17.00 price objective on the stock.

Separately, Jefferies Financial Group assumed coverage on PermRock Royalty Trust in a report on Tuesday, May 29th. They set a buy rating and a $19.00 target price on the stock.

PermRock Royalty Trust traded up $0.01, hitting $16.10, during midday trading on Tuesday, Marketbeat reports. 32,100 shares of the company were exchanged, compared to its average volume of 140,447. PermRock Royalty Trust has a fifty-two week low of $14.78 and a fifty-two week high of $16.69.

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, June 14th. Shareholders of record on Thursday, May 31st will be issued a $0.166 dividend. This represents a $1.99 annualized dividend and a yield of 12.37%. The ex-dividend date is Wednesday, May 30th.

In other PermRock Royalty Trust news, major shareholder Boaz Energy Ii, Llc sold 6,250,000 shares of the firm’s stock in a transaction that occurred on Friday, May 4th. The stock was sold at an average price of $17.00, for a total value of $106,250,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

About PermRock Royalty Trust

PermRock Royalty Trust owns 80% net profits interest in the oil and natural gas production properties acquired by Boaz Energy II, LLC in the Permian Basin, Texas. The company was founded in 2017 and is based in Fort Worth, Texas.

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