Permianville Royalty Trust (NYSE:PVL) Announces Dividend Increase – $0.01 Per Share

Permianville Royalty Trust (NYSE:PVL) announced a monthly dividend on Monday, May 18th. Shareholders of record on Friday, May 29th will be paid a dividend of 0.014 per share on Friday, June 12th. This represents a c) dividend on an annualized basis and a yield of 8.4%. The ex-dividend date of this dividend is Friday, May 29th. This is a 40.0% increase from Permianville Royalty Trust’s previous monthly dividend of $0.01.

Permianville Royalty Trust Stock Performance

Shares of NYSE PVL opened at $2.00 on Tuesday. The company has a market cap of $66.13 million, a P/E ratio of 13.36 and a beta of 0.11. The firm’s fifty day moving average is $1.88 and its two-hundred day moving average is $1.82. Permianville Royalty Trust has a 52-week low of $1.47 and a 52-week high of $2.04.

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

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Permianville Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Permianville Royalty Trust Company Profile

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.