PermRock Royalty Trust (NYSE:PRT) Trading Up 0.9% – What’s Next?

Shares of PermRock Royalty Trust (NYSE:PRT) shot up 0.9% during trading on Wednesday . The stock traded as high as $3.97 and last traded at $3.92. 34,487 shares traded hands during mid-day trading, a decline of 44% from the average session volume of 61,791 shares. The stock had previously closed at $3.88.

PermRock Royalty Trust Trading Up 0.9 %

The company has a 50 day moving average of $4.15 and a 200 day moving average of $3.98. The firm has a market cap of $47.63 million, a price-to-earnings ratio of 9.32 and a beta of 0.95.

PermRock Royalty Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a $0.0402 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 12.32%. The ex-dividend date of this dividend is Friday, February 28th. PermRock Royalty Trust’s dividend payout ratio is currently 114.29%.

Hedge Funds Weigh In On PermRock Royalty Trust

Institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC acquired a new position in PermRock Royalty Trust in the fourth quarter worth $36,000. Virtu Financial LLC acquired a new position in PermRock Royalty Trust in the third quarter worth $46,000. CWA Asset Management Group LLC acquired a new position in PermRock Royalty Trust in the third quarter worth $58,000. Finally, Ameriflex Group Inc. acquired a new position in PermRock Royalty Trust in the fourth quarter worth $55,000. Institutional investors and hedge funds own 41.67% of the company’s stock.

PermRock Royalty Trust Company Profile

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.