PermRock Royalty Trust (NYSE:PRT) Shares Up 2.9% – Still a Buy?

PermRock Royalty Trust (NYSE:PRT)’s stock price traded up 2.9% during mid-day trading on Friday . The company traded as high as $2.71 and last traded at $2.6860. 34,928 shares were traded during mid-day trading, a decline of 61% from the average session volume of 88,722 shares. The stock had previously closed at $2.61.

PermRock Royalty Trust Price Performance

The firm has a fifty day simple moving average of $3.61 and a 200 day simple moving average of $3.85. The company has a market cap of $32.69 million, a price-to-earnings ratio of 6.40 and a beta of 0.74.

PermRock Royalty Trust (NYSE:PRT) last released its earnings results on Thursday, November 13th. The company reported $0.09 earnings per share for the quarter. The firm had revenue of $1.26 million during the quarter. PermRock Royalty Trust had a net margin of 85.31% and a return on equity of 7.24%.

PermRock Royalty Trust Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.0164 per share. The ex-dividend date is Wednesday, December 31st. This represents a c) annualized dividend and a yield of 7.3%. PermRock Royalty Trust’s dividend payout ratio is presently 47.62%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in PermRock Royalty Trust stock. Ameriflex Group Inc. bought a new position in shares of PermRock Royalty Trust (NYSE:PRT) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,000 shares of the company’s stock, valued at approximately $40,000. Ameriflex Group Inc. owned approximately 0.08% 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.