MV Oil Trust (NYSE:MVO) Posts Quarterly Earnings Results

MV Oil Trust (NYSE:MVO) released its earnings results on Wednesday. The oil and gas producer reported $0.14 EPS for the quarter, Zacks reports.

MV Oil Trust Trading Up 0.5%

Shares of MVO traded up $0.01 during trading hours on Wednesday, reaching $2.09. The company had a trading volume of 84,017 shares, compared to its average volume of 497,356. The firm has a 50 day simple moving average of $2.43 and a 200-day simple moving average of $2.18. The company has a market capitalization of $24.04 million, a price-to-earnings ratio of 2.27 and a beta of -0.11. MV Oil Trust has a 12-month low of $0.97 and a 12-month high of $6.26.

MV Oil Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 24th. Stockholders of record on Wednesday, April 15th were issued a $0.17 dividend. The ex-dividend date was Wednesday, April 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 32.5%. This is a boost from MV Oil Trust’s previous quarterly dividend of $0.14. MV Oil Trust’s payout ratio is 73.91%.

Hedge Funds Weigh In On MV Oil Trust

A number of large investors have recently made changes to their positions in MVO. XTX Topco Ltd purchased a new position in MV Oil Trust during the 4th quarter valued at about $45,000. HRT Financial LP purchased a new position in MV Oil Trust during the 4th quarter valued at about $28,000. Finally, Marshall Wace LLP purchased a new position in MV Oil Trust during the 2nd quarter valued at about $88,000. Hedge funds and other institutional investors own 3.54% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d)” rating on shares of MV Oil Trust in a research note on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

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.