PermRock Royalty Trust (PRT) to Issue Monthly Dividend of $0.03 on May 14th

PermRock Royalty Trust (NYSE:PRT) declared a monthly dividend on Friday, April 19th, investing.com reports. Stockholders of record on Tuesday, April 30th will be paid a dividend of 0.0307 per share on Tuesday, May 14th. This represents a $0.37 dividend on an annualized basis and a dividend yield of 8.96%. The ex-dividend date is Monday, April 29th.

PermRock Royalty Trust Trading Up 2.8 %

Shares of NYSE PRT opened at $4.11 on Friday. The firm has a market cap of $50.02 million, a P/E ratio of 8.06 and a beta of 0.93. PermRock Royalty Trust has a 1-year low of $3.99 and a 1-year high of $6.99. The business’s 50 day moving average is $4.32 and its 200-day moving average is $4.74.

Hedge Funds Weigh In On PermRock Royalty Trust

A number of large investors have recently made changes to their positions in PRT. UBS Group AG acquired a new position in PermRock Royalty Trust in the 1st quarter valued at $27,000. Jane Street Group LLC acquired a new position in PermRock Royalty Trust in the 3rd quarter valued at $93,000. Morgan Stanley raised its holdings in PermRock Royalty Trust by 25.3% in the 4th quarter. Morgan Stanley now owns 16,043 shares of the company’s stock valued at $124,000 after acquiring an additional 3,239 shares in the last quarter. Susquehanna International Group LLP acquired a new position in PermRock Royalty Trust in the 1st quarter valued at $131,000. Finally, Royal Bank of Canada raised its holdings in PermRock Royalty Trust by 50.5% in the 2nd quarter. Royal Bank of Canada now owns 29,200 shares of the company’s stock valued at $159,000 after acquiring an additional 9,800 shares in the last quarter. Institutional investors own 41.67% of the company’s stock.

About PermRock Royalty Trust

PermRock Royalty Trust operates as a statutory trust. It owns perpetual interests in the oil and natural gas producing properties. The company's underlying properties include 22,731 net acres in the Permian Basin. The company was founded in 2017 and is based in Dallas, Texas.