PermRock Royalty Trust (NYSE:PRT) Stock Price Up 1.8% – Time to Buy?

PermRock Royalty Trust (NYSE:PRT)’s share price was up 1.8% during trading on Tuesday . The stock traded as high as $4.00 and last traded at $3.90. Approximately 37,592 shares changed hands during trading, a decline of 12% from the average daily volume of 42,915 shares. The stock had previously closed at $3.83.

PermRock Royalty Trust Stock Performance

The stock has a market cap of $47.45 million, a price-to-earnings ratio of 9.05 and a beta of 1.00. The company’s 50 day simple moving average is $3.94 and its 200 day simple moving average is $3.93.

PermRock Royalty Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a $0.0302 dividend. The ex-dividend date is Thursday, October 31st. This represents a $0.36 annualized dividend and a dividend yield of 9.08%. This is a boost from PermRock Royalty Trust’s previous monthly dividend of $0.03. PermRock Royalty Trust’s payout ratio is currently 83.72%.

Hedge Funds Weigh In On PermRock Royalty Trust

An institutional investor recently bought a new position in PermRock Royalty Trust stock. CWA Asset Management Group LLC bought a new position in PermRock Royalty Trust (NYSE:PRT) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 14,665 shares of the company’s stock, valued at approximately $58,000. CWA Asset Management Group LLC owned 0.12% of PermRock Royalty Trust at the end of the most recent reporting period. 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 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.