Permianville Royalty Trust (NYSE:PVL) Sees Large Decline in Short Interest

Permianville Royalty Trust (NYSE:PVL) saw a significant decrease in short interest in the month of August. As of August 14th, there was short interest totaling 6,960 shares, a decrease of 75.5% from the July 30th total of 28,364 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average trading volume of 38,490 shares, the short-interest ratio is presently 0.2 days.

Permianville Royalty Trust Stock Performance

NYSE:PVL opened at $1.86 on Friday. Permianville Royalty Trust has a fifty-two week low of $1.58 and a fifty-two week high of $2.04. The company has a 50 day moving average price of $1.73 and a 200 day moving average price of $1.81. The stock has a market capitalization of $61.38 million, a P/E ratio of 10.94 and a beta of 0.12.

Permianville Royalty Trust (NYSE:PVL) last issued its quarterly earnings data on Friday, August 14th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. Permianville Royalty Trust had a return on equity of 15.04% and a net margin of 11.30%.The business had revenue of $14.79 million during the quarter, compared to analysts’ expectations of $8.70 million.

Permianville Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a $0.027 dividend. The ex-dividend date is Monday, August 31st. This is an increase from Permianville Royalty Trust’s previous monthly dividend of $0.01. This represents a c) annualized dividend and a dividend yield of 17.4%. Permianville Royalty Trust’s payout ratio is 105.88%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Permianville Royalty Trust from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, August 14th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Permianville Royalty Trust

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kestra Private Wealth Services LLC acquired a new stake in Permianville Royalty Trust in the third quarter valued at $37,000. Citadel Advisors LLC lifted its stake in Permianville Royalty Trust by 326.0% during the third 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 last quarter. Susquehanna International Group LLP increased its stake in Permianville Royalty Trust by 239.2% in the third quarter. Susquehanna International Group LLP now owns 94,421 shares of the company’s stock valued at $171,000 after purchasing an additional 66,583 shares during the last quarter. Pingora Partners LLC grew its position in shares of Permianville Royalty Trust by 4.6% in the 4th quarter. Pingora Partners LLC now owns 950,410 shares of the company’s stock valued at $1,701,000 after buying an additional 41,386 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its position in Permianville Royalty Trust by 10.8% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 1,721,520 shares of the company’s stock valued at $3,138,000 after acquiring an additional 167,616 shares during the last quarter. Hedge funds and other institutional investors own 6.78% of the company’s stock.

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.