PermRock Royalty Trust (NYSE:PRT) Short Interest Down 27.3% in August

PermRock Royalty Trust (NYSE:PRT) was the recipient of a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 18,900 shares, a decrease of 27.3% from the August 15th total of 26,000 shares. Based on an average trading volume of 39,700 shares, the short-interest ratio is currently 0.5 days. Currently, 0.3% of the shares of the stock are sold short.

PermRock Royalty Trust Stock Performance

NYSE PRT traded up $0.07 during trading hours on Monday, reaching $4.01. The company’s stock had a trading volume of 29,811 shares, compared to its average volume of 42,015. The stock has a market cap of $48.80 million, a PE ratio of 9.50 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 company’s 50-day moving average is $3.99 and its two-hundred day moving average is $4.02.

PermRock Royalty Trust (NYSE:PRT) last released its quarterly earnings results on Friday, August 9th. The company reported $0.11 earnings per share (EPS) for the quarter. PermRock Royalty Trust had a net margin of 85.38% and a return on equity of 6.99%. The company had revenue of $1.67 million for the quarter.

PermRock Royalty Trust Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.48 annualized dividend and a dividend yield of 11.97%. PermRock Royalty Trust’s dividend payout ratio is currently 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.