PermRock Royalty Trust (NYSE:PRT) Stock Price Up 4.7% – Should You Buy?

PermRock Royalty Trust (NYSE:PRT)’s stock price was up 4.7% on Monday . The stock traded as high as $4.03 and last traded at $4.01. Approximately 43,119 shares changed hands during trading, a decline of 38% from the average daily volume of 69,817 shares. The stock had previously closed at $3.83.

PermRock Royalty Trust Stock Performance

The stock’s 50 day simple moving average is $3.78 and its 200-day simple moving average is $3.91. The firm has a market cap of $48.80 million, a price-to-earnings ratio of 9.55 and a beta of 1.04.

PermRock Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.0503 dividend. This is a positive change from PermRock Royalty Trust’s previous monthly dividend of $0.03. The ex-dividend date is Tuesday, December 31st. This represents a $0.60 dividend on an annualized basis and a yield of 15.06%. PermRock Royalty Trust’s dividend payout ratio (DPR) is 142.86%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in PermRock Royalty Trust stock. CWA Asset Management Group LLC purchased a new position in PermRock Royalty Trust (NYSE:PRT) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 14,665 shares of the company’s stock, valued at approximately $58,000. CWA Asset Management Group LLC owned 0.12% of PermRock Royalty Trust at the end of the most recent quarter. 41.67% of the stock is currently owned by institutional investors and hedge funds.

PermRock Royalty Trust Company Profile

PermRock Royalty Trust operates as a statutory trust. It owns interests in the oil and natural gas producing properties. The company's underlying properties include 22,394 net acres in the Permian Basin. The company was founded in 2017 and is based in Dallas, Texas.