PermRock Royalty Trust (NYSE:PRT) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 1,500 shares, a drop of 94.7% from the July 31st total of 28,400 shares. Based on an average daily volume of 40,300 shares, the short-interest ratio is currently 0.0 days. Approximately 0.0% of the company’s stock are sold short.

A number of research firms recently issued reports on PRT. Zacks Investment Research cut PermRock Royalty Trust from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 24th. ValuEngine raised PermRock Royalty Trust from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 1st.

A hedge fund recently raised its stake in PermRock Royalty Trust stock. BB&T Securities LLC grew its stake in PermRock Royalty Trust (NYSE:PRT) by 54.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,300 shares of the company’s stock after buying an additional 11,400 shares during the period. BB&T Securities LLC owned approximately 0.27% of PermRock Royalty Trust worth $256,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 53.36% of the company’s stock.

Shares of NYSE:PRT traded down $0.08 on Friday, reaching $6.98. The company had a trading volume of 36,944 shares, compared to its average volume of 54,013. PermRock Royalty Trust has a twelve month low of $5.45 and a twelve month high of $13.30. The stock has a 50-day moving average price of $7.36 and a 200 day moving average price of $8.12. The stock has a market capitalization of $85.47 million, a P/E ratio of 5.45 and a beta of 1.84.

The business also recently declared a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a $0.07 dividend. The ex-dividend date is Thursday, August 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 12.03%. PermRock Royalty Trust’s dividend payout ratio is currently 65.63%.

About PermRock Royalty Trust

PermRock Royalty Trust owns 80% net profits interest in the oil and natural gas production properties acquired by Boaz Energy II, LLC in the Permian Basin, Texas. The company was founded in 2017 and is based in Fort Worth, Texas.

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