PermRock Royalty Trust (NYSE:PRT) Shares Will Pay Monthly Dividend of $0.02

PermRock Royalty Trust (NYSE:PRT) declared a monthly dividend on Tuesday, October 20th. Stockholders of record on Friday, October 30th will be paid a dividend of $0.0162 per share on Monday, November 16th. This represents a $0.19 annualized dividend and a dividend yield of 12.3%. The ex-dividend date is Friday, October 30th. This is a 17.4% decrease from PermRock Royalty Trust’s previous monthly dividend of $0.0196.

PermRock Royalty Trust has raised its dividend by an average of 0.2% per year over the last three years.

PermRock Royalty Trust Trading Down 12.7%

PermRock Royalty Trust stock traded down $0.23 during trading on Tuesday, hitting $1.58. The company had a trading volume of 112,025 shares, compared to its average volume of 50,905. PermRock Royalty Trust has a 1-year low of $1.58 and a 1-year high of $4.01. The company’s 50 day simple moving average is $2.05 and its 200-day simple moving average is $2.31. The stock has a market cap of $19.24 million, a price-to-earnings ratio of 6.87 and a beta of 0.45.

PermRock Royalty Trust (NYSE:PRT) last released its quarterly earnings results on Friday, August 14th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06). PermRock Royalty Trust had a return on equity of 7.72% and a net margin of 77.46%. The firm had revenue of $0.71 million for the quarter, compared to analyst estimates of $4.93 million.

Hedge Funds Weigh In On PermRock Royalty Trust

An institutional investor recently bought a new position in PermRock Royalty Trust stock. Cetera Investment Advisers purchased a new position in shares of PermRock Royalty Trust (NYSE:PRT) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 15,353 shares of the company’s stock, valued at approximately $51,000. Cetera Investment Advisers owned about 0.13% of PermRock Royalty Trust at the end of the most recent reporting period. Institutional investors own 41.67% of the company’s stock.

PermRock Royalty Trust Company Profile

PermRock Royalty Trust (NYSE:PRT) is a grantor trust that owns a net profits interest in oil and natural gas properties located in the Permian Basin of West Texas. The trust was established in 2017 in connection with the public offering of its trust units.

PermRock’s assets consist primarily of mature, producing conventional oil and natural gas properties. The properties are operated on behalf of the trust by Boaz Energy, LLC and its affiliates, which are responsible for development and production activities.