Permianville Royalty Trust (NYSE:PVL) Short Interest Update

Permianville Royalty Trust (NYSE:PVL) was the target of a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 38,446 shares, an increase of 452.4% from the August 15th total of 6,960 shares. Based on an average daily volume of 85,999 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.1% of the shares of the stock are sold short.

Permianville Royalty Trust Stock Up 1.4%

Shares of PVL stock traded up $0.03 on Friday, reaching $1.88. The company’s stock had a trading volume of 29,760 shares, compared to its average volume of 67,580. Permianville Royalty Trust has a 12-month low of $1.58 and a 12-month high of $2.04. The company has a market capitalization of $61.88 million, a P/E ratio of 11.03 and a beta of 0.13. The stock’s 50 day simple moving average is $1.76 and its 200-day simple moving average is $1.81.

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

Permianville Royalty Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.027 per share. The ex-dividend date of this dividend is Monday, August 31st. This is a positive change from Permianville Royalty Trust’s previous monthly dividend of $0.01. This represents a c) annualized dividend and a dividend yield of 17.3%. Permianville Royalty Trust’s payout ratio is presently 188.24%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Kestra Private Wealth Services LLC bought a new stake in Permianville Royalty Trust during the third quarter valued at approximately $37,000. Citadel Advisors LLC increased its holdings in shares of Permianville Royalty Trust by 326.0% in the 3rd quarter. Citadel Advisors LLC now owns 28,028 shares of the company’s stock worth $51,000 after buying an additional 40,428 shares during the last quarter. Susquehanna International Group LLP increased its holdings in shares of Permianville Royalty Trust by 239.2% in the 3rd quarter. Susquehanna International Group LLP now owns 94,421 shares of the company’s stock worth $171,000 after buying an additional 66,583 shares during the last quarter. Finally, Pingora Partners LLC increased its holdings 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 worth $1,701,000 after buying an additional 41,386 shares during the last quarter. 6.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Permianville Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 27th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Permianville Royalty Trust currently has a consensus rating of “Hold”.

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.