ValuEngine cut shares of PermRock Royalty Trust (NYSE:PRT) from a hold rating to a sell rating in a research report report published on Tuesday.
Separately, Stifel Nicolaus downgraded PermRock Royalty Trust from a buy rating to a hold rating and decreased their target price for the stock from $17.00 to $15.00 in a research report on Wednesday, August 22nd. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $18.00.
PRT opened at $12.70 on Tuesday. PermRock Royalty Trust has a one year low of $11.75 and a one year high of $16.69.
Large investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of PermRock Royalty Trust in the second quarter valued at $201,000. BB&T Securities LLC purchased a new stake in shares of PermRock Royalty Trust in the second quarter valued at $413,000. Millennium Management LLC purchased a new stake in shares of PermRock Royalty Trust in the second quarter valued at $1,558,000. Finally, HITE Hedge Asset Management LLC purchased a new stake in shares of PermRock Royalty Trust in the second quarter valued at $8,327,000. Institutional investors and hedge funds own 58.96% of the company’s stock.
PermRock Royalty Trust Company Profile
PermRock Royalty Trust owns 80% net profits interest in the oil and natural gas production properties acquired by Boaz Energy II, LLC in the Permian Basin, Texas. The company was founded in 2017 and is based in Fort Worth, Texas.
Further Reading: Market Capitalization and Individual Investors
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for PermRock Royalty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PermRock Royalty Trust and related companies with MarketBeat.com's FREE daily email newsletter.