PermRock Royalty Trust (NYSE:PRT) Increases Dividend to $0.00 Per Share

PermRock Royalty Trust (NYSE:PRT) declared a monthly dividend on Monday, May 18th. Investors of record on Friday, May 29th will be given a dividend of 0.0027 per share on Friday, June 12th. This represents a c) annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, May 29th. This is a 463.2% increase from PermRock Royalty Trust’s previous monthly dividend of $0.000473.

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

PermRock Royalty Trust Trading Down 2.7%

NYSE:PRT traded down $0.07 during trading hours on Monday, hitting $2.59. 74,391 shares of the company traded hands, compared to its average volume of 60,227. The stock has a market capitalization of $31.50 million, a price-to-earnings ratio of 8.63 and a beta of 0.52. PermRock Royalty Trust has a twelve month low of $2.56 and a twelve month high of $4.28. The firm has a 50-day moving average of $3.10 and a 200 day moving average of $3.37.

PermRock Royalty Trust (NYSE:PRT) last released its earnings results on Thursday, May 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 $0.66 million for the quarter, compared to analyst estimates of $4.93 million. PermRock Royalty Trust had a net margin of 80.38% and a return on equity of 7.59%.

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.