PermRock Royalty Trust (NYSE:PRT) Announces Monthly Dividend of $0.03

PermRock Royalty Trust (NYSE:PRT) declared a monthly dividend on Thursday, June 18th. Shareholders of record on Tuesday, June 30th will be given a dividend of 0.0305 per share on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 15.8%. 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 increased its dividend payment by an average of 0.2%per year over the last three years.

PermRock Royalty Trust Stock Up 4.9%

NYSE:PRT traded up $0.11 during trading hours on Thursday, reaching $2.32. 144,181 shares of the stock were exchanged, compared to its average volume of 64,852. The stock has a market capitalization of $28.21 million, a P/E ratio of 7.73 and a beta of 0.42. The firm has a 50 day simple moving average of $2.53 and a 200-day simple moving average of $3.08. PermRock Royalty Trust has a 52 week low of $1.82 and a 52 week high of $4.28.

PermRock Royalty Trust (NYSE:PRT) last issued its quarterly 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 firm had revenue of $0.66 million during the quarter, compared to the consensus estimate of $4.93 million. PermRock Royalty Trust had a net margin of 80.38% and a return on equity of 7.59%.

Institutional Trading of PermRock Royalty Trust

A number of institutional investors and hedge funds have recently made changes to their positions in PRT. Ameriflex Group Inc. bought a new stake in shares of PermRock Royalty Trust in the 3rd quarter worth approximately $40,000. Cetera Investment Advisers acquired a new stake in PermRock Royalty Trust in the first quarter worth $51,000. Finally, Jane Street Group LLC bought a new stake in PermRock Royalty Trust in the fourth quarter valued at $53,000. 41.67% of the stock is currently owned by institutional investors and hedge funds.

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.