PermRock Royalty Trust (NYSE:PRT) Short Interest Update

PermRock Royalty Trust (NYSE:PRT) was the recipient of a large decline in short interest in the month of April. As of April 30th, there was short interest totaling 86,989 shares, a decline of 34.3% from the April 15th total of 132,489 shares. Currently, 0.7% of the shares of the company are sold short. Based on an average daily volume of 74,905 shares, the short-interest ratio is currently 1.2 days.

Institutional Trading of PermRock Royalty Trust

Institutional investors have recently made changes to their positions in the stock. Ameriflex Group Inc. acquired a new stake in shares of PermRock Royalty Trust in the 3rd quarter worth approximately $40,000. Cetera Investment Advisers acquired a new stake in shares of PermRock Royalty Trust in the 1st quarter worth approximately $51,000. Finally, Jane Street Group LLC acquired a new stake in shares of PermRock Royalty Trust in the 4th quarter worth approximately $53,000. 41.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of PermRock Royalty Trust to a “hold” rating in a research note on Saturday, March 21st.

PermRock Royalty Trust Trading Down 9.2%

Shares of NYSE:PRT opened at $2.33 on Wednesday. The company has a 50 day moving average of $3.06 and a 200-day moving average of $3.35. The firm has a market cap of $28.30 million, a P/E ratio of 7.75 and a beta of 0.52. PermRock Royalty Trust has a twelve month low of $2.30 and a twelve month high of $4.28.

PermRock Royalty Trust (NYSE:PRT) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06). The company had revenue of $0.66 million during the quarter, compared to analyst estimates of $4.93 million. PermRock Royalty Trust had a return on equity of 7.59% and a net margin of 80.38%.

PermRock Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be paid a $0.0027 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 1.4%. This is an increase from PermRock Royalty Trust’s previous monthly dividend of $0.00. PermRock Royalty Trust’s dividend payout ratio (DPR) is currently 3.33%.

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.