PermRock Royalty Trust (NYSE:PRT) Posts Earnings Results, Misses Estimates By $0.06 EPS

PermRock Royalty Trust (NYSE:PRT) released its earnings results on Thursday. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06), Zacks reports. The firm had revenue of $0.66 million during the quarter, compared to analysts’ expectations of $4.93 million. PermRock Royalty Trust had a net margin of 80.38% and a return on equity of 6.59%.

PermRock Royalty Trust Trading Down 1.3%

NYSE:PRT traded down $0.04 during trading hours on Friday, reaching $2.68. 113,578 shares of the company traded hands, compared to its average volume of 79,635. The business’s 50-day moving average price is $3.10 and its two-hundred day moving average price is $3.37. The stock has a market capitalization of $32.55 million, a P/E ratio of 8.92 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 disclosed a monthly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were paid a dividend of $0.0005 per share. The ex-dividend date was Thursday, April 30th. This represents a c) dividend on an annualized basis and a yield of 0.2%. PermRock Royalty Trust’s payout ratio is presently 2.56%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in PermRock Royalty Trust stock. Jane Street Group LLC acquired a new stake in shares of PermRock Royalty Trust (NYSE:PRT) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 19,023 shares of the company’s stock, valued at approximately $53,000. Jane Street Group LLC owned about 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.