PermRock Royalty Trust (NYSE:PRT) Shares Down 2.3% – Should You Sell?

PermRock Royalty Trust (NYSE:PRT) dropped 2.3% during mid-day trading on Thursday . The stock traded as low as $2.09 and last traded at $2.12. Approximately 28,681 shares changed hands during trading, a decline of 45% from the average session volume of 52,560 shares. The stock had previously closed at $2.17.

Analyst Ratings Changes

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

PermRock Royalty Trust Trading Up 1.4%

The firm has a 50-day moving average of $2.29 and a two-hundred day moving average of $2.89. The firm has a market cap of $26.15 million, a price-to-earnings ratio of 7.16 and a beta of 0.39.

PermRock Royalty Trust (NYSE:PRT) last released its earnings results on Thursday, May 14th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06). The business had revenue of $0.66 million during the quarter, compared to analyst estimates of $4.93 million. PermRock Royalty Trust had a net margin of 80.38% and a return on equity of 7.59%.

PermRock Royalty Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.0305 dividend. This is a positive change from PermRock Royalty Trust’s previous monthly dividend of $0.00. This represents a c) annualized dividend and a dividend yield of 17.0%. The ex-dividend date of this dividend is Tuesday, June 30th. PermRock Royalty Trust’s dividend payout ratio (DPR) is currently 123.33%.

Hedge Funds Weigh In On PermRock Royalty Trust

An institutional investor recently bought a new stake in PermRock Royalty Trust stock. Cetera Investment Advisers bought a new stake in shares of PermRock Royalty Trust (NYSE:PRT) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 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. 41.67% of the stock is owned by hedge funds and other 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.