PermRock Royalty Trust (NYSE:PRT) Trading Up 0.9% – What’s Next?

PermRock Royalty Trust (NYSE:PRT) was up 0.9% during trading on Wednesday . The stock traded as high as $3.97 and last traded at $3.92. Approximately 34,487 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 61,791 shares. The stock had previously closed at $3.88.

PermRock Royalty Trust Trading Up 0.9 %

The company has a market cap of $47.63 million, a price-to-earnings ratio of 9.32 and a beta of 0.95. The company has a fifty day moving average price of $4.15 and a two-hundred day moving average price of $3.98.

PermRock Royalty Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.0402 per share. This represents a $0.48 annualized dividend and a dividend yield of 12.32%. The ex-dividend date of this dividend is Friday, February 28th. PermRock Royalty Trust’s payout ratio is presently 114.29%.

Institutional Trading of PermRock Royalty Trust

Several institutional investors have recently modified their holdings of PRT. CWA Asset Management Group LLC acquired a new stake in shares of PermRock Royalty Trust during the 3rd quarter worth approximately $58,000. Virtu Financial LLC acquired a new stake in PermRock Royalty Trust in the 3rd quarter valued at $46,000. Millennium Management LLC acquired a new stake in PermRock Royalty Trust in the 4th quarter valued at $36,000. Finally, Ameriflex Group Inc. acquired a new stake in PermRock Royalty Trust in the 4th quarter valued at $55,000. Institutional investors and hedge funds own 41.67% of the company’s stock.

PermRock Royalty Trust Company Profile

PermRock Royalty Trust operates as a statutory trust. It owns interests in the oil and natural gas producing properties. The company's underlying properties include 22,394 net acres in the Permian Basin. The company was founded in 2017 and is based in Dallas, Texas.