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

PermRock Royalty Trust (NYSE:PRT) declared a monthly dividend on Tuesday, July 21st. Stockholders 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 dividend yield of 11.6%. The ex-dividend date of this dividend is Friday, July 31st.

PermRock Royalty Trust has increased its dividend by an average of 0.2%annually over the last three years.

PermRock Royalty Trust Price Performance

Shares of NYSE PRT traded down $0.10 during mid-day trading on Tuesday, reaching $2.33. 48,356 shares of the company traded hands, compared to its average volume of 61,008. PermRock Royalty Trust has a fifty-two week low of $1.82 and a fifty-two week high of $4.14. The firm has a market cap of $28.36 million, a PE ratio of 7.77 and a beta of 0.39. The stock has a fifty day simple moving average of $2.24 and a 200-day simple moving average of $2.85.

PermRock Royalty Trust (NYSE:PRT) last released 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). PermRock Royalty Trust had a return on equity of 7.59% and a net margin of 80.38%.The firm had revenue of $0.66 million during the quarter, compared to analyst estimates of $4.93 million.

PermRock Royalty Trust Company Profile

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.