PermRock Royalty Trust (NYSE:PRT) Stock Price Down 0.8% – Time to Sell?

PermRock Royalty Trust (NYSE:PRT)’s stock price traded down 0.8% on Monday . The company traded as low as $3.91 and last traded at $3.92. 26,502 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 37,244 shares. The stock had previously closed at $3.95.

PermRock Royalty Trust Trading Down 0.8%

The business’s 50-day simple moving average is $3.95 and its two-hundred day simple moving average is $3.97. The company has a market capitalization of $47.69 million, a PE ratio of 8.91 and a beta of 1.12.

PermRock Royalty Trust (NYSE:PRT) last issued its quarterly earnings results on Wednesday, August 13th. The company reported $0.10 EPS for the quarter. PermRock Royalty Trust had a net margin of 84.81% and a return on equity of 7.46%. The business had revenue of $1.56 million for the quarter.

PermRock Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.0311 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This is a positive change from PermRock Royalty Trust’s previous monthly dividend of $0.03. This represents a c) annualized dividend and a dividend yield of 9.5%. PermRock Royalty Trust’s dividend payout ratio is 84.09%.

Hedge Funds Weigh In On PermRock Royalty Trust

Several large investors have recently modified their holdings of PRT. Millennium Management LLC bought a new position in shares of PermRock Royalty Trust during the fourth quarter worth about $36,000. PNC Financial Services Group Inc. lifted its position in shares of PermRock Royalty Trust by 1,400.0% during the first quarter. PNC Financial Services Group Inc. now owns 15,000 shares of the company’s stock worth $64,000 after purchasing an additional 14,000 shares during the last quarter. Finally, Howard Financial Services LTD. bought a new position in shares of PermRock Royalty Trust during the second quarter worth about $119,000. Institutional investors own 41.67% of the company’s stock.

About PermRock Royalty Trust

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.