Zacks Investment Research upgraded shares of Permianville Royalty Trust (NYSE:PVL) from a hold rating to a buy rating in a research report report published on Friday, Zacks.com reports. The brokerage currently has $3.00 price objective on the stock.
According to Zacks, “Permianville Royalty Trust is a Delaware statutory trust formed by Enduro Sponsor to own a net profits interest from the sale of oil and natural gas production from certain properties in the states of Texas, Louisiana and New Mexico held by Enduro Sponsor. Permianville Royalty Trust, formerly known as Enduro Royalty Trust, is based in TX, United States. “
Shares of NYSE PVL opened at $2.66 on Friday. Permianville Royalty Trust has a 12-month low of $1.70 and a 12-month high of $3.75. The business’s fifty day moving average is $2.70.
Permianville Royalty Trust (NYSE:PVL) last issued its earnings results on Friday, May 10th. The company reported $0.03 earnings per share (EPS) for the quarter. The business had revenue of $9.84 million for the quarter. Permianville Royalty Trust had a net margin of 32.16% and a return on equity of 15.37%. On average, analysts predict that Permianville Royalty Trust will post 0.24 EPS for the current year.
The business also recently announced a monthly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a dividend of $0.042 per share. This represents a $0.50 annualized dividend and a yield of 18.95%. The ex-dividend date of this dividend was Thursday, June 27th.
Permianville Royalty Trust Company Profile
Permianville Royalty Trust operates a statutory trust. It owns a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from properties located in the states of Texas, Louisiana, and New Mexico. The company was formerly known as Enduro Royalty Trust and changed its name to Permianville Royalty Trust in September 2018.
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