Permianville Royalty Trust (NYSE:PVL) Sees Large Drop in Short Interest

by · The Cerbat Gem

Permianville Royalty Trust (NYSE:PVLGet Free Report) was the recipient of a large decline in short interest during the month of April. As of April 30th, there was short interest totaling 75,195 shares, a decline of 42.0% from the April 15th total of 129,730 shares. Based on an average daily trading volume, of 117,841 shares, the short-interest ratio is presently 0.6 days. Approximately 0.2% of the shares of the company are short sold.

Permianville Royalty Trust Price Performance

Shares of NYSE PVL traded up $0.07 during midday trading on Monday, reaching $2.00. The company’s stock had a trading volume of 91,481 shares, compared to its average volume of 130,664. Permianville Royalty Trust has a 12-month low of $1.47 and a 12-month high of $2.04. The firm has a 50 day moving average price of $1.88 and a 200-day moving average price of $1.82. The stock has a market capitalization of $66.13 million, a P/E ratio of 13.36 and a beta of 0.11.

Permianville Royalty Trust (NYSE:PVLGet Free Report) last announced its earnings results on Friday, May 15th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. Permianville Royalty Trust had a return on equity of 12.30% and a net margin of 10.38%.The firm had revenue of $11.05 million for the quarter, compared to the consensus estimate of $8.90 million.

Permianville Royalty Trust Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 30th were paid a $0.01 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date was Thursday, April 30th. Permianville Royalty Trust’s payout ratio is presently 80.00%.

Institutional Investors Weigh In On Permianville Royalty Trust

A number of hedge funds have recently modified their holdings of the stock. Pingora Partners LLC raised its holdings in shares of Permianville Royalty Trust by 4.6% in the 4th quarter. Pingora Partners LLC now owns 950,410 shares of the company’s stock worth $1,701,000 after purchasing an additional 41,386 shares during the period. Ashton Thomas Private Wealth LLC raised its holdings in shares of Permianville Royalty Trust by 10.8% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 1,721,520 shares of the company’s stock worth $3,138,000 after purchasing an additional 167,616 shares during the period. Kestra Private Wealth Services LLC bought a new stake in shares of Permianville Royalty Trust in the 3rd quarter worth approximately $37,000. Susquehanna International Group LLP raised its holdings in shares of Permianville Royalty Trust by 239.2% in the 3rd quarter. Susquehanna International Group LLP now owns 94,421 shares of the company’s stock worth $171,000 after purchasing an additional 66,583 shares during the period. Finally, Citadel Advisors LLC raised its holdings in shares of Permianville Royalty Trust by 326.0% in the 3rd quarter. Citadel Advisors LLC now owns 28,028 shares of the company’s stock worth $51,000 after purchasing an additional 40,428 shares during the period. Institutional investors own 6.78% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Permianville Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Check Out Our Latest Research Report on PVL

About Permianville Royalty Trust

(Get Free Report)

Permianville Royalty Trust is a passive investment vehicle that holds overriding royalty interests in oil and gas properties located primarily in the Permian Basin of West Texas and southeastern New Mexico. Organized as a statutory royalty trust, it provides investors with exposure to production revenues from established hydrocarbon reservoirs without engaging directly in exploration or development activities.

The trust’s assets consist of net profits interests in wells that produce crude oil, natural gas and natural gas liquids.

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