PermRock Royalty Trust (NYSE:PRT) Shares Down 2% – Should You Sell?

PermRock Royalty Trust (NYSE:PRTGet 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

A hedge fund recently bought a new stake in PermRock Royalty Trust stock. Jane Street Group LLC bought a new stake in PermRock Royalty Trust (NYSE:PRTFree Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. 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 as of its most recent filing with the SEC. 41.67% of the stock is currently owned by institutional investors and hedge funds.

About PermRock Royalty Trust

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for PermRock Royalty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PermRock Royalty Trust and related companies with MarketBeat.com's FREE daily email newsletter.