PermRock Royalty Trust (NYSE:PRT) Trading 4.7% Higher – Here’s What Happened

Posted by Trent Williams on Jan 13th, 2025

PermRock Royalty Trust (NYSE:PRT – Get Free Report)’s stock price rose 4.7% during trading on Monday . The stock traded as high as $4.03 and last traded at $4.01. Approximately 43,119 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 69,817 shares. The stock had previously closed at $3.83.

PermRock Royalty Trust Trading Up 4.7 %

The firm has a 50-day simple moving average of $3.78 and a two-hundred day simple moving average of $3.91. The company has a market capitalization of $48.80 million, a price-to-earnings ratio of 9.55 and a beta of 1.04.

PermRock Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.0503 per share. This is a boost from PermRock Royalty Trust’s previous monthly dividend of $0.03. This represents a $0.60 annualized dividend and a yield of 15.06%. The ex-dividend date of this dividend is Tuesday, December 31st. PermRock Royalty Trust’s dividend payout ratio (DPR) is currently 142.86%.

Institutional Investors Weigh In On PermRock Royalty Trust

An institutional investor recently bought a new position in PermRock Royalty Trust stock. Virtu Financial LLC acquired a new stake in PermRock Royalty Trust (NYSE:PRT – Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 11,720 shares of the company’s stock, valued at approximately $46,000. Virtu Financial LLC owned approximately 0.10% of PermRock Royalty Trust as of its most recent filing with the Securities and Exchange Commission (SEC). 41.67% of the stock is currently owned by institutional investors.

PermRock Royalty Trust Company Profile

(Get Free Report)

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.