Post-IPO Update: PermRock Royalty Trust Is Attractive At Current Price Level [Seeking Alpha]
PermRock Royalty Trust Trust Units (PRT)
Company Research
Source: Seeking Alpha
Summary PermRock Royalty Trust went public in May 2018 at $17.00 per share. Its stock has traded down sharply since August due to reduced distributions vs. its IPO forecast and a downgrade from analyst Timothy Howard. At its current price level of around $12.50 and more reasonable distribution rate, the stock presents an enticing buy opportunity for dividend investors. Quick Take PermRock Royalty Trust ( PRT ) is an oil & gas trust with property interests in the Permian Basin region. The firm went public in May 2018, and its stock has since traded down from the IPO price due to reduced distributions. At the current stock price of $12.50, PRT's forward expected distribution yield is 11.4%, and most of its oil revenues are hedged through the end of 2019. For investors looking for a hedged distribution yield of above 11%, PRT may be a trust worth looking into closely. Company PermRock was formed in 2017 as a perpetual trust to receive 80% of the n
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PRT
News
- PermRock Royalty Trust Declares Monthly Cash DistributionPR Newswire
- PermRock Royalty Trust Declares Monthly Cash DistributionPR Newswire
- Don't Buy PermRock Royalty Trust (NYSE:PRT) For Its Next Dividend Without Doing These Checks [Yahoo! Finance]Yahoo! Finance
- PermRock Royalty Trust Declares Monthly Cash DistributionPR Newswire
PRT
Sec Filings
- 4/19/24 - Form 8-K
- 4/1/24 - Form 10-K
- 3/18/24 - Form 8-K
- PRT's page on the SEC website