PermRock Royalty Trust Announces Monthly Dividend of $0.02 (NYSE:PRT)

PermRock Royalty Trust (NYSE:PRT) declared a monthly dividend on Friday, August 21st. Shareholders of record on Monday, August 31st will be given a dividend of 0.0218 per share on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 11.9%. The ex-dividend date is Monday, August 31st.

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

PermRock Royalty Trust Stock Down 1.8%

PRT opened at $2.20 on Friday. The stock’s 50 day moving average price is $2.24 and its two-hundred day moving average price is $2.71. The firm has a market capitalization of $26.77 million, a P/E ratio of 9.57 and a beta of 0.40. PermRock Royalty Trust has a 12-month low of $1.82 and a 12-month high of $4.12.

PermRock Royalty Trust (NYSE:PRT) last posted its quarterly earnings data on Friday, August 14th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.06). PermRock Royalty Trust had a net margin of 77.46% and a return on equity of 7.72%. The business had revenue of $0.71 million during the quarter, compared to the consensus estimate of $4.93 million.

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.