PermRock Royalty Trust (NYSE:PRT – Get Free Report) traded down 2% on Tuesday . The company traded as low as $3.45 and last traded at $3.46. 21,571 shares changed hands during trading, a decline of 49% from the average session volume of 42,603 shares. The stock had previously closed at $3.53.
PermRock Royalty Trust Stock Performance
The firm has a 50 day moving average price of $3.25 and a two-hundred day moving average price of $3.64. The company has a market capitalization of $42.11 million, a P/E ratio of 8.24 and a beta of 0.72.
PermRock Royalty Trust Cuts Dividend
The business also recently declared a monthly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be paid a $0.0108 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a c) annualized dividend and a yield of 3.8%. PermRock Royalty Trust’s payout ratio is currently 30.95%.
Institutional Inflows and Outflows
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.
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