PermRock Royalty Trust (NYSE:PRT) Posts Quarterly Earnings Results, Misses Expectations By $0.14 EPS

PermRock Royalty Trust (NYSE:PRT) issued its earnings results on Thursday. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.14), Zacks reports. PermRock Royalty Trust had a net margin of 84.04% and a return on equity of 7.94%. The firm had revenue of $0.66 million during the quarter, compared to analyst estimates of $6.43 million.

PermRock Royalty Trust Trading Down 1.3%

NYSE PRT traded down $0.04 on Friday, hitting $2.68. 113,578 shares of the company were exchanged, compared to its average volume of 60,115. The firm has a 50 day moving average of $3.12 and a two-hundred day moving average of $3.38. The company has a market cap of $32.54 million, a P/E ratio of 6.86 and a beta of 0.52. PermRock Royalty Trust has a 1-year low of $2.61 and a 1-year high of $4.28.

PermRock Royalty Trust Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were given a dividend of $0.0005 per share. The ex-dividend date was Thursday, April 30th. This represents a c) annualized dividend and a yield of 0.2%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in PermRock Royalty Trust stock. Jane Street Group LLC purchased a new position in shares of PermRock Royalty Trust (NYSE:PRT) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 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 as of its most recent SEC filing. Hedge funds and other institutional investors own 41.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of PermRock Royalty Trust to a “hold” rating in a research note on Saturday, March 21st.

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.