PermRock Royalty Trust (PRT) Expected to Announce Earnings on Friday
by Mitch Edgeman · The Markets DailyPermRock Royalty Trust (NYSE:PRT – Get Free Report) is expected to be releasing its results before the market opens on Friday, March 27th. Analysts expect PermRock Royalty Trust to post earnings of $0.0858 per share and revenue of $4.93 million for the quarter.
PermRock Royalty Trust Stock Down 0.7%
PRT stock traded down $0.03 during midday trading on Wednesday, reaching $3.34. 25,607 shares of the company’s stock traded hands, compared to its average volume of 53,495. The company has a 50-day simple moving average of $3.37 and a two-hundred day simple moving average of $3.60. PermRock Royalty Trust has a 1-year low of $2.61 and a 1-year high of $4.42. The company has a market cap of $40.59 million, a price-to-earnings ratio of 7.94 and a beta of 0.72.
PermRock Royalty Trust Cuts Dividend
The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.003 per share. This represents a c) annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, March 31st. PermRock Royalty Trust’s dividend payout ratio is presently 30.95%.
Analysts Set New Price Targets
Separately, Wall Street Zen upgraded PermRock Royalty Trust to a “hold” rating in a research note on Saturday.
Check Out Our Latest Analysis on PRT
Institutional Trading of PermRock Royalty Trust
An institutional investor recently bought a new position in PermRock Royalty Trust stock. Jane Street Group LLC bought a new stake in shares of PermRock Royalty Trust (NYSE:PRT – Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 19,023 shares of the company’s stock, valued at approximately $53,000. Jane Street Group LLC owned 0.16% of PermRock Royalty Trust at the end of the most recent quarter. 41.67% of the stock is currently owned by institutional investors and hedge funds.
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.