PermRock Royalty Trust (NYSE:PRT – Get Free Report) shares were up 2.8% on Friday after the company announced a dividend. The stock traded as high as $4.14 and last traded at $4.11. Approximately 36,514 shares changed hands during mid-day trading, a decline of 15% from the average daily volume of 42,805 shares. The stock had previously closed at $4.00.
The newly announced dividend which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.0307 per share. This represents a $0.37 dividend on an annualized basis and a yield of 8.96%. The ex-dividend date is Monday, April 29th. PermRock Royalty Trust’s payout ratio is currently 54.90%.
PermRock Royalty Trust Stock Performance
The business has a 50 day simple moving average of $4.32 and a 200-day simple moving average of $4.74. The stock has a market capitalization of $50.02 million, a P/E ratio of 8.06 and a beta of 0.93.
Institutional Investors Weigh In On PermRock Royalty Trust
About PermRock Royalty Trust
PermRock Royalty Trust operates as a statutory trust. It owns perpetual interests in the oil and natural gas producing properties. The company's underlying properties include 22,731 net acres in the Permian Basin. The company was founded in 2017 and is based in Dallas, Texas.
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