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

PermRock Royalty Trust (NYSE:PRT) announced its quarterly earnings data on Thursday. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.06), Zacks reports. PermRock Royalty Trust had a net margin of 84.04% and a return on equity of 7.94%.

PermRock Royalty Trust Price Performance

Shares of NYSE:PRT traded up $0.00 during midday trading on Thursday, hitting $2.71. 70,639 shares of the company’s stock were exchanged, compared to its average volume of 77,534. The stock has a 50 day moving average price of $3.12 and a 200-day moving average price of $3.38. The company has a market cap of $33.01 million, a PE ratio of 6.96 and a beta of 0.52. PermRock Royalty Trust has a 12 month low of $2.61 and a 12 month high of $4.28.

PermRock Royalty Trust Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th will be given a dividend of $0.0005 per share. The ex-dividend date of this dividend is Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 0.2%.

Institutional Investors Weigh In On PermRock Royalty Trust

An institutional investor recently bought a new position in PermRock Royalty Trust stock. Jane Street Group LLC bought a new position in shares of PermRock Royalty Trust (NYSE:PRT) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 19,023 shares of the company’s stock, valued at approximately $53,000. Jane Street Group LLC owned approximately 0.16% of PermRock Royalty Trust at the end of the most recent reporting period. Hedge funds and other institutional investors own 41.67% of the company’s stock.

Analysts Set New Price Targets

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

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.