Permianville Royalty Trust (NYSE:PVL) Short Interest Update

Permianville Royalty Trust (NYSE:PVL) was the target of a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 28,364 shares, a growth of 58.2% from the July 15th total of 17,928 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 42,145 shares, the days-to-cover ratio is currently 0.7 days.

Permianville Royalty Trust Stock Performance

Shares of NYSE:PVL opened at $1.84 on Thursday. Permianville Royalty Trust has a 52 week low of $1.58 and a 52 week high of $2.04. The company has a market capitalization of $60.72 million, a PE ratio of 10.82 and a beta of 0.12. The company has a 50 day moving average price of $1.74 and a two-hundred day moving average price of $1.80.

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

Permianville Royalty Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a dividend of $0.027 per share. This represents a c) annualized dividend and a yield of 17.6%. The ex-dividend date of this dividend is Monday, August 31st. This is a boost from Permianville Royalty Trust’s previous monthly dividend of $0.01. Permianville Royalty Trust’s dividend payout ratio (DPR) is 105.88%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PVL. Ashton Thomas Private Wealth LLC raised its position in shares of Permianville Royalty Trust by 10.8% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 1,721,520 shares of the company’s stock worth $3,138,000 after purchasing an additional 167,616 shares during the period. Susquehanna International Group LLP grew its position 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 valued at $171,000 after purchasing an additional 66,583 shares during the period. Citadel Advisors LLC grew its position 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 valued at $51,000 after purchasing an additional 40,428 shares during the period. Kestra Private Wealth Services LLC bought a new stake in Permianville Royalty Trust during the 3rd quarter worth approximately $37,000. Finally, Pingora Partners LLC increased its stake 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 in the last quarter. 6.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut Permianville Royalty Trust from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, August 14th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Permianville Royalty Trust 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.