PermRock Royalty Trust (NYSE:PRT) Stock Rating Upgraded by Wall Street Zen

PermRock Royalty Trust (NYSE:PRT) was upgraded by research analysts at Wall Street Zen to a “hold” rating in a research report issued on Saturday.

PermRock Royalty Trust Price Performance

Shares of NYSE:PRT opened at $3.33 on Friday. The company’s 50-day moving average price is $3.35 and its two-hundred day moving average price is $3.61. PermRock Royalty Trust has a one year low of $2.61 and a one year high of $4.42. The stock has a market capitalization of $40.54 million, a PE ratio of 7.93 and a beta of 0.72.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in PermRock Royalty Trust stock. Ameriflex Group Inc. purchased a new position in shares of PermRock Royalty Trust (NYSE:PRT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,000 shares of the company’s stock, valued at approximately $40,000. Ameriflex Group Inc. owned about 0.08% of PermRock Royalty Trust as of its most recent SEC filing. 41.67% of the stock is owned by institutional investors.

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.