PermRock Royalty Trust (NYSE:PRT) Raises Dividend to $0.03 Per Share

PermRock Royalty Trust (NYSE:PRTGet Free Report) announced a monthly dividend on Thursday, June 18th. Stockholders of record on Tuesday, June 30th will be given a dividend of 0.0305 per share on Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 15.8%. The ex-dividend date of this dividend is Tuesday, June 30th. This is a 1,044.3% increase from PermRock Royalty Trust’s previous monthly dividend of $0.002664.

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

PermRock Royalty Trust Trading Up 4.9%

Shares of PRT stock opened at $2.32 on Friday. The firm has a fifty day moving average price of $2.51 and a 200 day moving average price of $3.07. The company has a market cap of $28.21 million, a P/E ratio of 7.73 and a beta of 0.42. PermRock Royalty Trust has a 12 month low of $1.82 and a 12 month high of $4.28.

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

Wall Street Analyst Weigh In

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

Read Our Latest Stock Report on PRT

PermRock Royalty Trust Company Profile

(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.

Further Reading

Dividend History for PermRock Royalty Trust (NYSE:PRT)

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