PermRock Royalty Trust (NYSE:PRT) Issues Quarterly Earnings Results
by Tristan Rich · The Markets DailyPermRock Royalty Trust (NYSE:PRT – Get Free Report) released its quarterly earnings data on Friday. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01), Zacks reports. The company had revenue of $1.07 million for the quarter, compared to analyst estimates of $4.93 million. PermRock Royalty Trust had a return on equity of 7.24% and a net margin of 85.31%.
PermRock Royalty Trust Trading Up 1.1%
Shares of NYSE PRT opened at $3.34 on Friday. PermRock Royalty Trust has a twelve month low of $2.61 and a twelve month high of $4.38. The stock has a 50 day moving average of $3.38 and a two-hundred day moving average of $3.59. The stock has a market cap of $40.59 million, a P/E ratio of 7.94 and a beta of 0.72.
PermRock Royalty Trust Cuts Dividend
The company also recently declared a monthly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.003 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a c) annualized dividend and a yield of 1.1%. PermRock Royalty Trust’s payout ratio is 30.95%.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen upgraded shares of PermRock Royalty Trust to a “hold” rating in a report on Saturday, March 21st.
Check Out Our Latest Stock Analysis on PRT
Hedge Funds Weigh In On PermRock Royalty Trust
A hedge fund recently bought a new stake in PermRock Royalty Trust stock. Jane Street Group LLC purchased a new stake in PermRock Royalty Trust (NYSE:PRT – Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 19,023 shares of the company’s stock, valued at approximately $53,000. Jane Street Group LLC owned 0.16% of PermRock Royalty Trust as of its most recent SEC filing. 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.