Short Interest in PermRock Royalty Trust (NYSE:PRT) Grows By 31.0%

PermRock Royalty Trust (NYSE:PRT) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 74,800 shares, a growth of 31.0% from the March 15th total of 57,100 shares. Based on an average daily volume of 59,600 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.6% of the company’s shares are sold short.

Institutional Investors Weigh In On PermRock Royalty Trust

Several hedge funds have recently made changes to their positions in the company. Millennium Management LLC purchased a new position in PermRock Royalty Trust during the fourth quarter valued at approximately $36,000. Virtu Financial LLC bought a new stake in PermRock Royalty Trust during the 3rd quarter valued at $46,000. Finally, Ameriflex Group Inc. purchased a new position in shares of PermRock Royalty Trust in the 4th quarter valued at $55,000. 41.67% of the stock is currently owned by hedge funds and other institutional investors.

PermRock Royalty Trust Trading Up 2.2 %

NYSE PRT opened at $3.94 on Monday. The stock has a market cap of $47.87 million, a PE ratio of 9.37 and a beta of 0.69. PermRock Royalty Trust has a 12 month low of $3.26 and a 12 month high of $4.63. The company’s 50-day moving average price is $4.09 and its 200-day moving average price is $3.98.

PermRock Royalty Trust (NYSE:PRT) last issued its earnings results on Friday, March 28th. The company reported $0.11 EPS for the quarter. PermRock Royalty Trust had a net margin of 85.33% and a return on equity of 6.93%. The business had revenue of $1.47 million for the quarter.

PermRock Royalty Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, April 14th. Shareholders of record on Monday, March 31st were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.48 annualized dividend and a yield of 12.20%. PermRock Royalty Trust’s payout ratio is currently 66.67%.

PermRock Royalty Trust Company Profile

PermRock Royalty Trust operates as a statutory trust. It owns interests in the oil and natural gas producing properties. The company's underlying properties include 22,394 net acres in the Permian Basin. The company was founded in 2017 and is based in Dallas, Texas.