PermRock Royalty Trust (NYSE:PRT) Issues Quarterly Earnings Results

PermRock Royalty Trust (NYSE:PRT) posted its earnings results on Friday. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06), Zacks reports. PermRock Royalty Trust had a net margin of 80.38% and a return on equity of 7.59%.

PermRock Royalty Trust Stock Down 1.4%

Shares of PRT traded down $0.03 on Friday, hitting $2.19. The company’s stock had a trading volume of 30,955 shares, compared to its average volume of 56,965. The firm’s fifty day moving average price is $2.22 and its 200-day moving average price is $2.76. PermRock Royalty Trust has a fifty-two week low of $1.82 and a fifty-two week high of $4.12. The firm has a market capitalization of $26.65 million, a price-to-earnings ratio of 7.30 and a beta of 0.40.

PermRock Royalty Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a $0.0226 dividend. The ex-dividend date is Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 12.4%. PermRock Royalty Trust’s payout ratio is currently 90.00%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in PermRock Royalty Trust stock. Jane Street Group LLC acquired a new stake in PermRock Royalty Trust (NYSE:PRT) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 19,023 shares of the company’s stock, valued at approximately $53,000. Jane Street Group LLC owned approximately 0.16% of PermRock Royalty Trust at the end of the most recent quarter. 41.67% of the stock is owned by institutional investors.

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.