PermRock Royalty Trust Declares Monthly Dividend of $0.01 (NYSE:PRT)

PermRock Royalty Trust (NYSE:PRT) declared a monthly dividend on Tuesday, February 17th. Stockholders of record on Friday, February 27th will be paid a dividend of 0.0108 per share on Friday, March 13th. This represents a c) dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, February 27th.

PermRock Royalty Trust has decreased its dividend payment by an average of 0.1%per year over the last three years.

PermRock Royalty Trust Trading Down 5.6%

Shares of PRT traded down $0.20 during midday trading on Tuesday, hitting $3.29. 52,791 shares of the company’s stock traded hands, compared to its average volume of 61,032. The stock has a market capitalization of $39.98 million, a price-to-earnings ratio of 7.82 and a beta of 0.79. PermRock Royalty Trust has a 1 year low of $2.61 and a 1 year high of $4.63. The firm’s fifty day moving average is $3.31 and its 200-day moving average is $3.71.

About PermRock Royalty Trust

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.