PermRock Royalty Trust (NYSE:PRT) Releases Earnings Results, Misses Estimates By $0.06 EPS

by · The Markets Daily

PermRock Royalty Trust (NYSE:PRT – Get Free Report) posted its earnings results on Friday. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.06), Zacks reports. PermRock Royalty Trust had a net margin of 80.38% and a return on equity of 7.59%.

PermRock Royalty Trust Price Performance

Shares of PermRock Royalty Trust stock traded down $0.03 during trading on Friday, reaching $2.19. 30,955 shares of the stock traded hands, compared to its average volume of 56,965. PermRock Royalty Trust has a 52-week low of $1.82 and a 52-week high of $4.12. The business has a fifty day simple moving average of $2.22 and a two-hundred day simple moving average of $2.76. The company has a market capitalization of $26.65 million, a price-to-earnings ratio of 7.30 and a beta of 0.40.

PermRock Royalty Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a dividend of $0.0226 per share. The ex-dividend date is Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 12.4%. PermRock Royalty Trust’s dividend payout ratio (DPR) is presently 90.00%.

Institutional Investors Weigh In On PermRock Royalty Trust

A hedge fund recently bought a new position in PermRock Royalty Trust stock. Jane Street Group LLC purchased a new stake in shares of PermRock Royalty Trust (NYSE:PRT – Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 19,023 shares of the company’s stock, valued at approximately $53,000. Jane Street Group LLC owned approximately 0.16% of PermRock Royalty Trust at the end of the most recent reporting period. 41.67% of the stock is currently owned by hedge funds and other institutional investors.

PermRock Royalty Trust Company Profile

(Get Free Report)

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.

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