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

by · The Markets Daily

Permianville Royalty Trust (NYSE:PVL – Get Free Report) was the target of a large decline in short interest in October. As of October 15th, there was short interest totaling 24,003 shares, a decline of 62.1% from the September 30th total of 63,306 shares. Based on an average trading volume of 62,991 shares, the short-interest ratio is currently 0.4 days. Approximately 0.1% of the company’s stock are sold short.

Permianville Royalty Trust Trading Up 2.5%

Permianville Royalty Trust stock traded up $0.04 during mid-day trading on Friday, hitting $1.81. 172,515 shares of the company’s stock were exchanged, compared to its average volume of 58,921. The stock has a market cap of $59.86 million, a P/E ratio of 10.67 and a beta of 0.17. Permianville Royalty Trust has a 1-year low of $1.58 and a 1-year high of $2.01. The stock has a 50 day moving average of $1.82 and a two-hundred day moving average of $1.81.

Permianville Royalty Trust (NYSE:PVL – Get Free Report) last released its quarterly earnings results on Friday, August 14th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.02. The company had revenue of $14.79 million during the quarter, compared to the consensus estimate of $8.70 million. Permianville Royalty Trust had a return on equity of 15.04% and a net margin of 11.30%.

Permianville Royalty Trust Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be issued a dividend of $0.0150 per share. This represents a $0.18 annualized dividend and a yield of 9.9%. This is a drop from Permianville Royalty Trust’s previous monthly dividend of $0.0160. The ex-dividend date is Friday, October 30th. Permianville Royalty Trust’s dividend payout ratio is 111.76%.

Analyst Ratings Changes

Separately, Weiss Ratings raised Permianville Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 27th. One research analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Check Out Our Latest Stock Analysis on Permianville Royalty Trust

About Permianville Royalty Trust

(Get Free Report)

Permianville Royalty Trust (NYSE:PVL) is a publicly traded grantor trust that owns royalty and net profits interests in oil and natural gas properties. The trust does not operate wells directly; instead, it receives distributions based on production and the revenues generated by the underlying properties after applicable production and operating costs.

The trust’s interests are concentrated primarily in the Permian Basin of West Texas and southeastern New Mexico, one of the most significant oil- and natural-gas-producing regions in the United States.

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