PermRock Royalty Trust (PRT) Stock Rating Upgraded by ValuEngine

PermRock Royalty Trust (NYSE:PRT) was upgraded by stock analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research report issued on Thursday.

Separately, Stifel Nicolaus raised shares of PermRock Royalty Trust from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Monday, October 1st. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. PermRock Royalty Trust currently has an average rating of “Buy” and a consensus price target of $18.00.

Shares of PRT stock opened at $9.85 on Thursday. PermRock Royalty Trust has a 1 year low of $5.45 and a 1 year high of $16.69.

PermRock Royalty Trust (NYSE:PRT) last issued its earnings results on Wednesday, November 14th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.20). The business had revenue of $9.55 million for the quarter, compared to analyst estimates of $9.35 million.

A number of hedge funds have recently modified their holdings of PRT. BlackRock Inc. bought a new stake in shares of PermRock Royalty Trust during the second quarter worth $201,000. BB&T Securities LLC bought a new stake in shares of PermRock Royalty Trust during the second quarter worth $413,000. Millennium Management LLC bought a new stake in shares of PermRock Royalty Trust during the second quarter worth $1,558,000. Wells Fargo & Company MN raised its position in shares of PermRock Royalty Trust by 264.2% during the third quarter. Wells Fargo & Company MN now owns 15,910 shares of the company’s stock worth $195,000 after acquiring an additional 11,541 shares during the last quarter. Finally, Monashee Investment Management LLC bought a new stake in shares of PermRock Royalty Trust during the third quarter worth $1,334,000. 59.09% of the stock is currently owned by institutional investors and hedge funds.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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