MV Oil Trust (NYSE:MVO) Shares Cross Above 200-Day Moving Average – Here’s What Happened

MV Oil Trust (NYSE:MVO)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.89 and traded as high as $1.91. MV Oil Trust shares last traded at $1.7610, with a volume of 186,142 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of MV Oil Trust in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, MV Oil Trust presently has a consensus rating of “Sell”.

MV Oil Trust Price Performance

The company has a market cap of $19.18 million, a price-to-earnings ratio of 2.03 and a beta of -0.21. The company’s 50-day simple moving average is $1.89 and its 200-day simple moving average is $1.89.

MV Oil Trust (NYSE:MVO) last posted its earnings results on Wednesday, May 13th. The oil and gas producer reported $0.14 EPS for the quarter. The firm had revenue of $1.84 million for the quarter.

MV Oil Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Wednesday, July 15th will be issued a $0.5938 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $2.38 dividend on an annualized basis and a yield of 142.4%. This is an increase from MV Oil Trust’s previous quarterly dividend of $0.17. MV Oil Trust’s dividend payout ratio (DPR) is presently 82.93%.

Hedge Funds Weigh In On MV Oil Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP purchased a new stake in shares of MV Oil Trust during the second quarter worth about $88,000. HRT Financial LP purchased a new position in MV Oil Trust in the fourth quarter valued at about $28,000. XTX Topco Ltd acquired a new stake in MV Oil Trust during the 4th quarter valued at approximately $45,000. Finally, Bank of America Corp DE grew its stake in MV Oil Trust by 1,614.1% during the 1st quarter. Bank of America Corp DE now owns 55,708 shares of the oil and gas producer’s stock valued at $126,000 after purchasing an additional 52,458 shares in the last quarter. 3.54% of the stock is owned by hedge funds and other institutional investors.

About MV Oil Trust

MV Oil Trust is an exchange-listed royalty trust that holds overriding royalty and net profits interests in oil and gas properties across the United States. As a non-operating entity, the trust does not engage in exploration or development; instead, it collects a share of production revenues after operating expenses are deducted.

The trust’s interests are primarily concentrated in onshore hydrocarbon fields in West Texas, providing unitholders with exposure to established production streams.