PermRock Royalty Trust (NYSE:PRT) Upgraded by Wall Street Zen to Hold Rating

PermRock Royalty Trust (NYSE:PRT) was upgraded by Wall Street Zen to a “hold” rating in a report released on Saturday.

PermRock Royalty Trust Trading Down 1.4%

PRT opened at $3.33 on Friday. The stock’s fifty day simple moving average is $3.35 and its 200 day simple moving average is $3.61. PermRock Royalty Trust has a 1-year low of $2.61 and a 1-year high of $4.42. The stock has a market cap of $40.54 million, a PE ratio of 7.93 and a beta of 0.72.

Institutional Trading of PermRock Royalty Trust

A hedge fund recently bought a new stake in PermRock Royalty Trust stock. Ameriflex Group Inc. purchased a new stake in PermRock Royalty Trust (NYSE:PRT) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,000 shares of the company’s stock, valued at approximately $40,000. Ameriflex Group Inc. owned about 0.08% of PermRock Royalty Trust as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 41.67% of the company’s stock.

PermRock Royalty Trust Company Profile

PermRock Royalty Trust is an unincorporated statutory trust established in 2018 by PDC Energy under Delaware law to hold non-operated royalty interests in oil and natural gas properties. The trust’s assets derive from a portfolio of mineral and royalty interests originally contributed by PDC Energy, primarily focused on the Delaware Basin of West Texas. As a royalty trust, PermRock does not engage in drilling or field operations but instead receives royalty income from production generated by third-party operators.

The core business activity of PermRock revolves around collecting and distributing net profits interest and mineral royalty payments from producing wells.