PermRock Royalty Trust (NYSE:PRT) Sees Large Decrease in Short Interest

PermRock Royalty Trust (NYSE:PRT) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 18,900 shares, a decrease of 27.3% from the August 15th total of 26,000 shares. Based on an average trading volume of 39,700 shares, the short-interest ratio is currently 0.5 days. Approximately 0.3% of the company’s stock are short sold.

PermRock Royalty Trust Stock Performance

PermRock Royalty Trust stock traded down $0.06 during mid-day trading on Friday, reaching $3.94. The stock had a trading volume of 46,929 shares, compared to its average volume of 42,084. The firm has a market capitalization of $47.93 million, a PE ratio of 9.38 and a beta of 0.99. PermRock Royalty Trust has a fifty-two week low of $3.58 and a fifty-two week high of $6.99. The stock’s 50-day simple moving average is $3.99 and its 200-day simple moving average is $4.02.

PermRock Royalty Trust (NYSE:PRT) last posted its quarterly earnings results on Friday, August 9th. The company reported $0.11 earnings per share (EPS) for the quarter. The business had revenue of $1.67 million during the quarter. PermRock Royalty Trust had a net margin of 85.38% and a return on equity of 6.99%.

PermRock Royalty Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.04 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 12.18%. The ex-dividend date is Friday, August 30th. PermRock Royalty Trust’s dividend payout ratio is currently 114.29%.

PermRock Royalty Trust Company Profile

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.