PermRock Royalty Trust (NYSE:PRT) was upgraded by investment analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Thursday, ValuEngine reports.
Separately, Zacks Investment Research lowered shares of PermRock Royalty Trust from a “hold” rating to a “sell” rating in a research note on Wednesday.
Shares of PRT stock traded down $0.05 during trading hours on Thursday, hitting $7.89. 14,646 shares of the company were exchanged, compared to its average volume of 36,271. The company’s fifty day moving average price is $8.03. PermRock Royalty Trust has a 52-week low of $5.45 and a 52-week high of $16.00. The firm has a market cap of $95.87 million, a PE ratio of 6.16 and a beta of 1.85.
A hedge fund recently raised its stake in PermRock Royalty Trust stock. Stifel Financial Corp grew its position in shares of PermRock Royalty Trust (NYSE:PRT) by 95.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,675 shares of the company’s stock after purchasing an additional 25,275 shares during the period. Stifel Financial Corp owned approximately 0.42% of PermRock Royalty Trust worth $304,000 at the end of the most recent quarter. 53.55% of the stock is owned by institutional investors and hedge funds.
PermRock Royalty Trust Company Profile
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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To view ValuEngine’s full report, visit ValuEngine’s official website.
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