Short Interest in Permianville Royalty Trust (NYSE:PVL) Drops By 42.0%

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded 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, the stock has an average rating of “Hold”.

Permianville Royalty Trust Price Performance

NYSE PVL opened at $2.00 on Tuesday. The stock’s fifty day moving average price is $1.88 and its 200 day moving average price is $1.82. Permianville Royalty Trust has a 1 year low of $1.47 and a 1 year high of $2.04. The company has a market cap of $66.13 million, a price-to-earnings ratio of 13.36 and a beta of 0.11.

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

Permianville Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be given a dividend of $0.014 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a c) annualized dividend and a yield of 8.4%. This is an increase from Permianville Royalty Trust’s previous monthly dividend of $0.01. Permianville Royalty Trust’s payout ratio is 80.00%.

Institutional Investors Weigh In On Permianville Royalty Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC grew its position in Permianville Royalty Trust by 0.5% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 1,553,904 shares of the company’s stock worth $2,848,000 after purchasing an additional 7,890 shares during the period. Kestra Private Wealth Services LLC acquired a new stake in Permianville Royalty Trust during the 3rd quarter worth about $37,000. Citadel Advisors LLC grew its position in Permianville Royalty Trust by 326.0% during 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. Pingora Partners LLC grew its position in Permianville Royalty Trust by 4.6% during 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. Finally, Susquehanna International Group LLP grew its position in Permianville Royalty Trust by 239.2% during 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. 6.78% of the stock is owned by institutional investors and hedge funds.

About Permianville Royalty Trust

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.