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

PermRock Royalty Trust (NYSE:PRT) saw a large drop in short interest in the month of July. As of July 15th, there was short interest totalling 22,400 shares, a drop of 17.0% from the June 30th total of 27,000 shares. Based on an average trading volume of 40,600 shares, the short-interest ratio is currently 0.6 days. Approximately 0.3% of the shares of the stock are sold short.

PermRock Royalty Trust Stock Performance

PRT stock traded up $0.03 during midday trading on Monday, hitting $4.06. 54,427 shares of the stock were exchanged, compared to its average volume of 41,684. The stock has a market cap of $49.41 million, a price-to-earnings ratio of 9.67 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 moving average price is $3.86 and its 200-day moving average price is $4.14.

PermRock Royalty Trust (NYSE:PRT) last released its quarterly earnings data on Tuesday, May 14th. The company reported $0.09 EPS for the quarter. The business had revenue of $1.31 million for the quarter. PermRock Royalty Trust had a net margin of 84.70% and a return on equity of 6.74%.

PermRock Royalty Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be given a $0.04 dividend. The ex-dividend date is Wednesday, July 31st. This represents a $0.48 annualized dividend and a dividend yield of 11.83%. PermRock Royalty Trust’s dividend payout ratio is presently 114.29%.

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.