PermRock Royalty Trust to Issue Monthly Dividend of $0.01 (NYSE:PRT)

PermRock Royalty Trust (NYSE:PRT) announced a monthly dividend on Tuesday, February 17th. Stockholders of record on Friday, February 27th will be given a dividend of 0.0108 per share on Friday, March 13th. This represents a c) annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, February 27th.

PermRock Royalty Trust has decreased its dividend by an average of 0.1%per year over the last three years.

PermRock Royalty Trust Stock Down 5.6%

Shares of PermRock Royalty Trust stock opened at $3.29 on Wednesday. PermRock Royalty Trust has a 12-month low of $2.61 and a 12-month high of $4.63. The stock has a market capitalization of $39.98 million, a P/E ratio of 7.82 and a beta of 0.79. The company has a 50-day simple moving average of $3.30 and a 200 day simple moving average of $3.70.

Hedge Funds Weigh In On PermRock Royalty Trust

A hedge fund recently bought a new stake in PermRock Royalty Trust stock. Jane Street Group LLC purchased a new stake in PermRock Royalty Trust (NYSE:PRT) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 19,023 shares of the company’s stock, valued at approximately $53,000. Jane Street Group LLC owned about 0.16% of PermRock Royalty Trust as of its most recent SEC filing. 41.67% of the stock is owned by institutional investors.

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.