PermRock Royalty Trust (NYSE:PRT – Get Rating) declared a monthly dividend on Friday, June 17th, Zacks reports. Shareholders of record on Thursday, June 30th will be given a dividend of 0.10 per share on Friday, July 15th. This represents a $1.20 annualized dividend and a dividend yield of 17.05%. The ex-dividend date is Wednesday, June 29th.
PermRock Royalty Trust has decreased its dividend by an average of 22.1% per year over the last three years and has raised its dividend every year for the last 1 years. PermRock Royalty Trust has a dividend payout ratio of 172.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
Shares of PRT stock opened at $7.04 on Friday. The firm has a fifty day moving average price of $8.92 and a 200 day moving average price of $8.59. The company has a market cap of $97 million, a P/E ratio of 16.96 and a beta of 1.24. PermRock Royalty Trust has a 12 month low of $5.95 and a 12 month high of $10.88.
In related news, major shareholder Boaz Energy Ii, Llc sold 5,000 shares of the business’s stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $7.45, for a total transaction of $37,250.00. Following the completion of the transaction, the insider now owns 5,796,675 shares in the company, valued at $43,185,228.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders have sold 77,503 shares of company stock valued at $697,478.
A hedge fund recently bought a new stake in PermRock Royalty Trust stock. UBS Group AG bought a new position in shares of PermRock Royalty Trust (NYSE:PRT – Get Rating) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,933 shares of the company’s stock, valued at approximately $27,000. Institutional investors and hedge funds own 0.51% of the company’s stock.
About PermRock Royalty Trust (Get Rating)
PermRock Royalty Trust owns 80% net profits interest in the oil and natural gas production properties acquired by Boaz Energy II, LLC in Permian Basin, Texas. Its underlying properties comprising 22,997 net acres, which include 2,434 net acres on the Central Basin Platform of the Permian Basin in Hockley and Terry counties, Texas; 1,667 net acres on the Central Basin Platform of the Permian Basin in Terry and Cochran counties, Texas; 14,727 net acres on the Eastern Shelf of the Permian Basin in Glasscock, Schleicher, Stonewall, and Coke counties, Texas; and 4,169 net acres on the Central Basin Platform of the Permian Basin in Ward, Crane, Terry, and Ector counties, Texas.
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