PermRock Royalty Trust (NYSE:PRT) Increases Dividend to $0.02 Per Share

PermRock Royalty Trust (NYSE:PRT) announced a monthly dividend on Tuesday, January 20th. Stockholders of record on Friday, January 30th will be given a dividend of 0.0194 per share on Friday, February 13th. This represents a c) annualized dividend and a dividend yield of 7.7%. The ex-dividend date is Friday, January 30th. This is a 18.2% increase from PermRock Royalty Trust’s previous monthly dividend of $0.02.

PermRock Royalty Trust has decreased its dividend by an average of 0.1%annually over the last three years.

PermRock Royalty Trust Stock Performance

PRT traded down $0.07 during trading on Tuesday, reaching $3.01. The company had a trading volume of 92,199 shares, compared to its average volume of 72,990. The firm’s 50-day simple moving average is $3.50 and its 200 day simple moving average is $3.80. PermRock Royalty Trust has a 12-month low of $2.61 and a 12-month high of $4.63. The company has a market cap of $36.57 million, a price-to-earnings ratio of 7.15 and a beta of 0.74.

PermRock Royalty Trust (NYSE:PRT) last posted its quarterly earnings data on Thursday, November 13th. The company reported $0.09 earnings per share for the quarter. PermRock Royalty Trust had a net margin of 85.31% and a return on equity of 7.24%. The firm had revenue of $1.26 million for the quarter.

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.