PermRock Royalty Trust (NYSE:PRT) Short Interest Update

PermRock Royalty Trust (NYSE:PRT) saw a significant growth in short interest in September. As of September 30th, there was short interest totalling 48,900 shares, a growth of 25.4% from the September 15th total of 39,000 shares. Based on an average daily trading volume, of 42,600 shares, the short-interest ratio is presently 1.1 days. Currently, 0.8% of the company’s stock are sold short.

Shares of PRT stock remained flat at $$2.03 during trading hours on Friday. The stock had a trading volume of 25,796 shares, compared to its average volume of 47,272. The business’s fifty day moving average price is $1.95 and its 200 day moving average price is $2.30. The stock has a market cap of $24.65 million, a P/E ratio of 8.44 and a beta of 1.11. PermRock Royalty Trust has a 1-year low of $1.00 and a 1-year high of $7.44.

The firm also recently declared a monthly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.01 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 5.92%. The ex-dividend date of this dividend was Tuesday, September 29th. PermRock Royalty Trust’s payout ratio is presently 50.00%.

A number of equities analysts recently commented on the stock. ValuEngine downgraded shares of PermRock Royalty Trust from a “sell” rating to a “strong sell” rating in a research note on Monday, August 3rd. Wells Fargo & Company downgraded shares of PermRock Royalty Trust from an “overweight” rating to an “equal weight” rating and set a $3.00 price objective for the company. in a research note on Wednesday, July 29th.

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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