PermRock Royalty Trust (PRT) To Go Ex-Dividend on June 30th

PermRock Royalty Trust (NYSE:PRT) announced a monthly dividend on Thursday, June 18th. Stockholders of record on Tuesday, June 30th will be paid a dividend of 0.0305 per share on Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 16.0%. The ex-dividend date of this dividend is Tuesday, June 30th. This is a 1,044.3% increase from PermRock Royalty Trust’s previous monthly dividend of $0.002664.

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

PermRock Royalty Trust Stock Up 0.9%

Shares of NYSE:PRT opened at $2.28 on Friday. PermRock Royalty Trust has a 12 month low of $1.82 and a 12 month high of $4.28. The company’s fifty day simple moving average is $2.42 and its 200 day simple moving average is $3.01. The firm has a market cap of $27.75 million, a price-to-earnings ratio of 7.60 and a beta of 0.42.

PermRock Royalty Trust (NYSE:PRT) last announced its 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%.

Institutional Trading of PermRock Royalty Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Ameriflex Group Inc. bought a new stake in PermRock Royalty Trust during the third quarter worth about $40,000. Cetera Investment Advisers bought a new position in PermRock Royalty Trust in the first quarter valued at approximately $51,000. Finally, Jane Street Group LLC acquired a new position in shares of PermRock Royalty Trust during the 4th quarter worth approximately $53,000. 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.