Permianville Royalty Trust (NYSE:PVL) Major Shareholder Sells $46,005.00 in Stock

Permianville Royalty Trust (NYSE:PVLGet Rating) major shareholder Permianville Holdings Llc sold 12,268 shares of the business’s stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $3.75, for a total value of $46,005.00. Following the completion of the sale, the insider now owns 8,555,030 shares in the company, valued at $32,081,362.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Permianville Holdings Llc also recently made the following trade(s):

  • On Friday, July 29th, Permianville Holdings Llc sold 9,300 shares of Permianville Royalty Trust stock. The shares were sold at an average price of $3.75, for a total value of $34,875.00.
  • On Wednesday, July 27th, Permianville Holdings Llc sold 22,602 shares of Permianville Royalty Trust stock. The shares were sold at an average price of $3.76, for a total value of $84,983.52.

Permianville Royalty Trust Stock Down 14.5 %

PVL stock traded down $0.54 during mid-day trading on Friday, reaching $3.19. 343,645 shares of the company traded hands, compared to its average volume of 226,041. Permianville Royalty Trust has a 52-week low of $1.89 and a 52-week high of $5.79. The company has a fifty day moving average price of $3.35 and a 200-day moving average price of $3.43.

Permianville Royalty Trust (NYSE:PVLGet Rating) last posted its earnings results on Monday, August 15th. The company reported $0.08 earnings per share for the quarter. The business had revenue of $14.18 million during the quarter. Permianville Royalty Trust had a return on equity of 13.43% and a net margin of 21.98%.

Permianville Royalty Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.051 per share. This represents a $0.61 dividend on an annualized basis and a yield of 19.18%. The ex-dividend date of this dividend is Thursday, September 29th. This is a positive change from Permianville Royalty Trust’s previous monthly dividend of $0.02.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Virtu Financial LLC purchased a new position in shares of Permianville Royalty Trust during the first quarter worth about $171,000. Occudo Quantitative Strategies LP grew its holdings in shares of Permianville Royalty Trust by 15.4% during the second quarter. Occudo Quantitative Strategies LP now owns 41,080 shares of the company’s stock worth $137,000 after purchasing an additional 5,483 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Permianville Royalty Trust during the second quarter worth about $61,000. McGowan Group Asset Management Inc. purchased a new position in shares of Permianville Royalty Trust during the second quarter worth about $454,000. Finally, AE Wealth Management LLC purchased a new position in shares of Permianville Royalty Trust during the second quarter worth about $312,000.

About Permianville Royalty Trust

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Permianville Royalty Trust operates as 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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