PermRock Royalty Trust (NYSE:PRT) Sees Significant Increase in Short Interest

PermRock Royalty Trust (NYSE:PRT) saw a significant increase in short interest in June. As of June 30th, there was short interest totalling 19,000 shares, an increase of 7.3% from the May 30th total of 17,700 shares. Based on an average trading volume of 39,700 shares, the short-interest ratio is presently 0.5 days. Currently, 0.3% of the company’s stock are short sold.

A hedge fund recently raised its stake in PermRock Royalty Trust stock. Stifel Financial Corp boosted its holdings in shares of PermRock Royalty Trust (NYSE:PRT) by 95.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 51,675 shares of the company’s stock after purchasing an additional 25,275 shares during the period. Stifel Financial Corp owned about 0.42% of PermRock Royalty Trust worth $304,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 53.55% of the company’s stock.

Several equities research analysts have weighed in on the stock. ValuEngine downgraded shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Zacks Investment Research upgraded shares of Jack Henry & Associates from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th.

NYSE:PRT opened at $7.96 on Wednesday. PermRock Royalty Trust has a 12 month low of $5.45 and a 12 month high of $16.25. The business’s fifty day moving average is $8.23. The firm has a market capitalization of $97.12 million, a P/E ratio of 6.22 and a beta of 1.86.

PermRock Royalty Trust (NYSE:PRT) last posted its quarterly earnings data on Wednesday, May 15th. The company reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.37). The firm had revenue of $6.74 million for the quarter, compared to analyst estimates of $8.27 million. As a group, analysts expect that PermRock Royalty Trust will post 1.04 earnings per share for the current year.

The business also recently disclosed a monthly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a dividend of $0.072 per share. The ex-dividend date was Thursday, June 27th. This represents a $0.86 annualized dividend and a dividend yield of 10.85%. PermRock Royalty Trust’s payout ratio is currently 67.97%.

About PermRock Royalty Trust

PermRock Royalty Trust owns 80% net profits interest in the oil and natural gas production properties acquired by Boaz Energy II, LLC in the Permian Basin, Texas. The company was founded in 2017 and is based in Fort Worth, Texas.

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