PermRock Royalty Trust (NYSE:PRT) Trading Up 8.7%

PermRock Royalty Trust (NYSE:PRT) shares were up 8.7% during trading on Tuesday . The company traded as high as $7.98 and last traded at $7.72, approximately 268,706 shares traded hands during mid-day trading. An increase of 383% from the average daily volume of 55,649 shares. The stock had previously closed at $7.10.

PRT has been the subject of a number of research analyst reports. Zacks Investment Research lowered PermRock Royalty Trust from a “hold” rating to a “strong sell” rating in a report on Saturday, August 24th. ValuEngine raised PermRock Royalty Trust from a “strong sell” rating to a “sell” rating in a report on Thursday, August 1st.

The firm has a fifty day moving average price of $7.30 and a 200 day moving average price of $8.09. The stock has a market cap of $93.95 million, a PE ratio of 6.03 and a beta of 1.83.

PermRock Royalty Trust (NYSE:PRT) last released its earnings results on Wednesday, August 14th. The company reported $0.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.22. The firm had revenue of $7.83 million during the quarter, compared to analyst estimates of $7.80 million. On average, research analysts expect that PermRock Royalty Trust will post 0.76 earnings per share for the current year.

The company also recently announced a monthly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a $0.07 dividend. This represents a $0.84 annualized dividend and a dividend yield of 10.88%. The ex-dividend date of this dividend was Thursday, August 29th. PermRock Royalty Trust’s payout ratio is 65.63%.

An institutional investor recently raised its position in PermRock Royalty Trust stock. BB&T Securities LLC boosted its stake in PermRock Royalty Trust (NYSE:PRT) by 54.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,300 shares of the company’s stock after buying an additional 11,400 shares during the quarter. BB&T Securities LLC owned approximately 0.27% of PermRock Royalty Trust worth $256,000 at the end of the most recent reporting period. 53.35% of the stock is currently owned by hedge funds and other institutional investors.

PermRock Royalty Trust Company Profile (NYSE:PRT)

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.

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