PermRock Royalty Trust (NYSE:PRT) to Issue $0.03 Monthly Dividend

Posted by Steve Fairfield on Apr 20th, 2024

PermRock Royalty Trust (NYSE:PRT – Get Free Report) declared a monthly dividend on Friday, April 19th, investing.com reports. Shareholders 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 annualized dividend and a yield of 8.96%. The ex-dividend date of this dividend is Monday, April 29th.

PermRock Royalty Trust Trading Up 2.8 %

Shares of PRT opened at $4.11 on Friday. The firm’s 50-day moving average is $4.32 and its two-hundred day moving average is $4.75. PermRock Royalty Trust has a twelve month low of $3.99 and a twelve month high of $6.99. The firm has a market capitalization of $50.02 million, a P/E ratio of 8.06 and a beta of 0.93.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS Group AG acquired a new position in PermRock Royalty Trust during the first quarter worth about $27,000. Jane Street Group LLC acquired a new position in PermRock Royalty Trust during the third quarter worth about $93,000. Morgan Stanley grew its position in PermRock Royalty Trust by 25.3% during the fourth quarter. Morgan Stanley now owns 16,043 shares of the company’s stock worth $124,000 after buying an additional 3,239 shares during the period. Susquehanna International Group LLP acquired a new position in PermRock Royalty Trust during the first quarter worth about $131,000. Finally, Royal Bank of Canada grew its position in PermRock Royalty Trust by 50.5% during the second quarter. Royal Bank of Canada now owns 29,200 shares of the company’s stock worth $159,000 after buying an additional 9,800 shares during the period. 41.67% of the stock is currently owned by institutional investors and hedge funds.

PermRock Royalty Trust Company Profile

(Get Free Report)

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.