PermRock Royalty Trust (PRT) To Go Ex-Dividend on June 30th

PermRock Royalty Trust (NYSE:PRT) declared a monthly dividend on Thursday, June 18th. Investors of record on Tuesday, June 30th will be paid a dividend of 0.0305 per share on Wednesday, July 15th. This represents a c) annualized dividend and a yield of 15.8%. The ex-dividend date is Tuesday, June 30th. This is a 1,044.3% increase from PermRock Royalty Trust’s previous monthly dividend of $0.002664.

PermRock Royalty Trust has raised its dividend payment by an average of 0.2%per year over the last three years.

PermRock Royalty Trust Price Performance

Shares of NYSE PRT opened at $2.32 on Friday. The company has a market cap of $28.21 million, a P/E ratio of 7.73 and a beta of 0.42. PermRock Royalty Trust has a 1 year low of $1.82 and a 1 year high of $4.28. The firm has a 50-day simple moving average of $2.50 and a two-hundred day simple moving average of $3.06.

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

Wall Street Analyst Weigh In

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

PermRock Royalty Trust Company Profile

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.