PermRock Royalty Trust Announces Monthly Dividend of $0.02 (NYSE:PRT)

PermRock Royalty Trust (NYSE:PRT) declared a monthly dividend on Tuesday, July 21st. Shareholders of record on Friday, July 31st will be given a dividend of 0.0226 per share on Friday, August 14th. This represents a c) annualized dividend and a yield of 11.6%. The ex-dividend date of this dividend is Friday, July 31st.

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

PermRock Royalty Trust Stock Performance

NYSE PRT opened at $2.33 on Wednesday. PermRock Royalty Trust has a 1 year low of $1.82 and a 1 year high of $4.14. The business’s fifty day moving average is $2.23 and its two-hundred day moving average is $2.85. The stock has a market capitalization of $28.35 million, a P/E ratio of 7.77 and a beta of 0.39.

PermRock Royalty Trust (NYSE:PRT) last issued its earnings results on Thursday, May 14th. The company reported $0.03 earnings per share (EPS) 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%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in PermRock Royalty Trust stock. Cetera Investment Advisers purchased a new stake in shares of PermRock Royalty Trust (NYSE:PRT) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,353 shares of the company’s stock, valued at approximately $51,000. Cetera Investment Advisers owned 0.13% of PermRock Royalty Trust at the end of the most recent reporting period. Institutional investors and hedge funds own 41.67% of the company’s stock.

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.