PermRock Royalty Trust (NYSE:PRT) Stock Price Down 2% – Here’s What Happened
by Sarita Garza · The Markets DailyShares of PermRock Royalty Trust (NYSE:PRT – Get Free Report) traded down 2% during trading on Tuesday . The stock traded as low as $3.45 and last traded at $3.46. 21,571 shares were traded during mid-day trading, a decline of 49% from the average session volume of 42,603 shares. The stock had previously closed at $3.53.
PermRock Royalty Trust Trading Up 0.6%
The company has a market cap of $41.97 million, a PE ratio of 8.21 and a beta of 0.72. The business has a 50 day simple moving average of $3.27 and a two-hundred day simple moving average of $3.64.
PermRock Royalty Trust Cuts Dividend
The firm also recently announced a monthly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be given a dividend of $0.0108 per share. The ex-dividend date is Friday, February 27th. This represents a c) annualized dividend and a yield of 3.8%. PermRock Royalty Trust’s dividend payout ratio is 30.95%.
Institutional Trading of PermRock Royalty Trust
A hedge fund recently bought a new stake in PermRock Royalty Trust stock. Jane Street Group LLC acquired a new stake in shares of PermRock Royalty Trust (NYSE:PRT – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 19,023 shares of the company’s stock, valued at approximately $53,000. Jane Street Group LLC owned about 0.16% of PermRock Royalty Trust at the end of the most recent reporting period. Institutional investors and hedge funds own 41.67% of the company’s stock.
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.