PermRock Royalty Trust (NYSE:PRT) Shares Down 0.3% – Time to Sell?

PermRock Royalty Trust (NYSE:PRTGet Free Report) shares dropped 0.3% during trading on Tuesday . The stock traded as low as $3.86 and last traded at $3.87. Approximately 24,118 shares changed hands during trading, a decline of 20% from the average daily volume of 30,129 shares. The stock had previously closed at $3.88.

PermRock Royalty Trust Trading Down 0.3%

The firm has a market cap of $47.10 million, a P/E ratio of 9.21 and a beta of 0.66. The business’s fifty day moving average price is $3.91 and its two-hundred day moving average price is $3.96.

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

PermRock Royalty Trust Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 28th will be issued a dividend of $0.0288 per share. This represents a c) annualized dividend and a yield of 8.9%. The ex-dividend date is Friday, November 28th. PermRock Royalty Trust’s dividend payout ratio (DPR) is 83.33%.

Institutional Trading of PermRock Royalty Trust

Several large investors have recently modified their holdings of PRT. PNC Financial Services Group Inc. lifted its position in PermRock Royalty Trust by 1,400.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 15,000 shares of the company’s stock worth $64,000 after acquiring an additional 14,000 shares during the last quarter. Howard Financial Services LTD. acquired a new position in shares of PermRock Royalty Trust during the 2nd quarter worth about $119,000. Finally, Ameriflex Group Inc. bought a new stake in PermRock Royalty Trust during the 3rd quarter valued at approximately $40,000. 41.67% of the stock is owned by institutional investors.

About PermRock Royalty Trust

(Get Free Report)

PermRock Royalty Trust operates as a statutory trust. It owns interests in the oil and natural gas producing properties. The company's underlying properties include 22,394 net acres in the Permian Basin. The company was founded in 2017 and is based in Dallas, Texas.

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