PermRock Royalty Trust to Issue Monthly Dividend of $0.02 (NYSE:PRT)

PermRock Royalty Trust (NYSE:PRT) declared a monthly dividend on Tuesday, July 21st. Investors of record on Friday, July 31st will be given a dividend of 0.0226 per share on Friday, August 14th. This represents a c) annualized dividend and a yield of 11.6%. The ex-dividend date is Friday, July 31st.

PermRock Royalty Trust has increased its dividend by an average of 0.2%annually over the last three years.

PermRock Royalty Trust Trading Down 4.1%

PRT stock traded down $0.10 during trading on Tuesday, reaching $2.33. The stock had a trading volume of 48,356 shares, compared to its average volume of 61,008. The firm has a fifty day moving average price of $2.24 and a 200 day moving average price of $2.85. The company has a market capitalization of $28.36 million, a P/E ratio of 7.77 and a beta of 0.39. PermRock Royalty Trust has a 1-year low of $1.82 and a 1-year high of $4.14.

PermRock Royalty Trust (NYSE:PRT) last released its earnings results on Thursday, May 14th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.06). The business had revenue of $0.66 million for 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 7.59%.

About PermRock Royalty Trust

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.