PermRock Royalty Trust (PRT) Expected to Announce Earnings on Friday

PermRock Royalty Trust (NYSE:PRT) is expected to issue its results before the market opens on Friday, March 27th. Analysts expect the company to announce earnings of $0.0858 per share and revenue of $4.93 million for the quarter.

PermRock Royalty Trust Stock Performance

NYSE:PRT traded down $0.03 during mid-day trading on Wednesday, hitting $3.34. The company had a trading volume of 25,607 shares, compared to its average volume of 53,495. The business’s fifty day moving average is $3.37 and its two-hundred day moving average is $3.60. PermRock Royalty Trust has a fifty-two week low of $2.61 and a fifty-two week high of $4.42. The firm has a market cap of $40.59 million, a P/E ratio of 7.94 and a beta of 0.72.

PermRock Royalty Trust Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.003 per share. This represents a c) annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, March 31st. PermRock Royalty Trust’s dividend payout ratio (DPR) is 30.95%.

Analysts Set New Price Targets

Separately, Wall Street Zen raised PermRock Royalty Trust to a “hold” rating in a research report on Saturday.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in PermRock Royalty Trust stock. Jane Street Group LLC bought a new position in shares of PermRock Royalty Trust (NYSE:PRT) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 19,023 shares of the company’s stock, valued at approximately $53,000. Jane Street Group LLC owned about 0.16% of PermRock Royalty Trust at the end of the most recent quarter. Hedge funds and other institutional investors 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.