PermRock Royalty Trust (NYSE:PRT) Trading Up 4.7% – Here’s Why

PermRock Royalty Trust (NYSE:PRT) shot up 4.7% during trading on Monday . The stock traded as high as $4.03 and last traded at $4.01. 43,119 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 69,817 shares. The stock had previously closed at $3.83.

PermRock Royalty Trust Stock Performance

The company’s 50-day moving average price is $3.78 and its 200 day moving average price is $3.91. The stock has a market capitalization of $49.17 million, a PE ratio of 9.62 and a beta of 1.04.

PermRock Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.0503 per share. This is an increase from PermRock Royalty Trust’s previous monthly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 14.95%. PermRock Royalty Trust’s dividend payout ratio is 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 shares of PermRock Royalty Trust (NYSE:PRT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,720 shares of the company’s stock, valued at approximately $46,000. Virtu Financial LLC owned 0.10% of PermRock Royalty Trust at the end of the most recent quarter. Hedge funds and other institutional investors own 41.67% of the company’s stock.

About PermRock Royalty Trust

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.