PermRock Royalty Trust (NYSE:PRT) Stock Price Up 1.8% – Time to Buy?

PermRock Royalty Trust (NYSE:PRT) rose 1.8% during trading on Tuesday . The company traded as high as $4.00 and last traded at $3.90. Approximately 37,592 shares were traded during trading, a decline of 12% from the average daily volume of 42,915 shares. The stock had previously closed at $3.83.

PermRock Royalty Trust Trading Up 2.6 %

The stock’s 50-day moving average price is $3.94 and its 200-day moving average price is $3.93. The company has a market capitalization of $47.45 million, a P/E ratio of 9.05 and a beta of 1.00.

PermRock Royalty Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a $0.0302 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 9.08%. The ex-dividend date is Thursday, October 31st. This is a boost from PermRock Royalty Trust’s previous monthly dividend of $0.03. PermRock Royalty Trust’s dividend payout ratio (DPR) is 83.72%.

Institutional Trading of PermRock Royalty Trust

A hedge fund recently bought a new stake in PermRock Royalty Trust stock. CWA Asset Management Group LLC bought a new stake in shares of PermRock Royalty Trust (NYSE:PRT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 14,665 shares of the company’s stock, valued at approximately $58,000. CWA Asset Management Group LLC owned 0.12% of PermRock Royalty Trust at the end of the most recent quarter. 41.67% of the stock is currently owned by institutional investors and hedge funds.

About PermRock Royalty Trust

PermRock Royalty Trust operates as a statutory trust. It owns interests in the oil and natural gas producing properties. The company's underlying properties include 22,394 net acres in the Permian Basin. The company was founded in 2017 and is based in Dallas, Texas.