PermRock Royalty Trust (NYSE:PRT) Shares Up 2.2% – What’s Next?

PermRock Royalty Trust (NYSE:PRT) shares rose 2.2% during trading on Thursday . The company traded as high as $3.85 and last traded at $3.80. Approximately 43,271 shares were traded during mid-day trading, an increase of 1% from the average daily volume of 43,001 shares. The stock had previously closed at $3.72.

PermRock Royalty Trust Stock Up 2.2 %

The business has a 50-day moving average price of $3.93 and a 200-day moving average price of $3.93. The company has a market capitalization of $46.25 million, a price-to-earnings ratio of 9.05 and a beta of 1.01.

PermRock Royalty Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.0303 per share. This represents a $0.36 annualized dividend and a yield of 9.57%. This is a positive change from PermRock Royalty Trust’s previous monthly dividend of $0.03. The ex-dividend date is Friday, November 29th. PermRock Royalty Trust’s payout ratio is presently 85.71%.

Institutional Inflows and Outflows

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

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.