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

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

PermRock Royalty Trust Stock Performance

PRT stock opened at $4.11 on Friday. The firm has a market cap of $50.02 million, a PE ratio of 8.06 and a beta of 0.93. The firm’s 50 day moving average price is $4.32 and its 200-day moving average price is $4.75. PermRock Royalty Trust has a one year low of $3.99 and a one year high of $6.99.

Institutional Trading of PermRock Royalty Trust

Several institutional investors have recently made changes to their positions in the company. Royal Bank of Canada raised its position in shares of PermRock Royalty Trust by 50.5% during the 2nd quarter. Royal Bank of Canada now owns 29,200 shares of the company’s stock valued at $159,000 after buying an additional 9,800 shares during the period. Susquehanna International Group LLP purchased a new stake in PermRock Royalty Trust in the first quarter valued at approximately $131,000. Morgan Stanley raised its position in PermRock Royalty Trust by 25.3% in the fourth quarter. Morgan Stanley now owns 16,043 shares of the company’s stock valued at $124,000 after purchasing an additional 3,239 shares during the period. Jane Street Group LLC purchased a new stake in PermRock Royalty Trust in the third quarter valued at approximately $93,000. Finally, UBS Group AG purchased a new stake in PermRock Royalty Trust in the first quarter valued at approximately $27,000. Hedge funds and other institutional investors own 41.67% of the company’s stock.

PermRock Royalty Trust Company Profile

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.