PermRock Royalty Trust (NYSE:PRT) Short Interest Update

PermRock Royalty Trust (NYSE:PRT) was the target of a significant increase in short interest in May. As of May 29th, there was short interest totaling 111,144 shares, an increase of 57.1% from the May 14th total of 70,738 shares. Approximately 0.9% of the shares of the stock are short sold. Based on an average trading volume of 97,272 shares, the days-to-cover ratio is presently 1.1 days.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded PermRock Royalty Trust to a “hold” rating in a research report on Saturday, March 21st.

Hedge Funds Weigh In On PermRock Royalty Trust

Institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC purchased a new position in PermRock Royalty Trust during the fourth quarter worth approximately $53,000. Cetera Investment Advisers purchased a new position in PermRock Royalty Trust during the first quarter worth approximately $51,000. Finally, Ameriflex Group Inc. purchased a new position in PermRock Royalty Trust during the third quarter worth approximately $40,000. Hedge funds and other institutional investors own 41.67% of the company’s stock.

PermRock Royalty Trust Price Performance

NYSE PRT opened at $2.22 on Thursday. The company has a market cap of $27.02 million, a PE ratio of 7.40 and a beta of 0.42. The stock’s 50 day simple moving average is $2.53 and its 200-day simple moving average is $3.08. PermRock Royalty Trust has a 1-year low of $1.82 and a 1-year high of $4.28.

PermRock Royalty Trust (NYSE:PRT) last released its earnings results on Thursday, May 14th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.06). The firm had revenue of $0.66 million during the quarter, compared to analysts’ expectations of $4.93 million. PermRock Royalty Trust had a net margin of 80.38% and a return on equity of 7.59%.

PermRock Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were given a dividend of $0.0027 per share. The ex-dividend date was Friday, May 29th. This is a positive change from PermRock Royalty Trust’s previous monthly dividend of $0.00. This represents a c) dividend on an annualized basis and a yield of 1.4%. PermRock Royalty Trust’s dividend payout ratio (DPR) is 10.00%.

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.