Permianville Royalty Trust (NYSE:PVL) Posts Earnings Results, Beats Expectations By $0.02 EPS

Permianville Royalty Trust (NYSE:PVL) released its quarterly earnings data on Friday. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02, Zacks reports. Permianville Royalty Trust had a return on equity of 8.63% and a net margin of 7.47%.The business had revenue of $11.05 million during the quarter, compared to the consensus estimate of $8.90 million.

Permianville Royalty Trust Trading Up 3.2%

NYSE:PVL traded up $0.06 on Friday, reaching $1.97. The stock had a trading volume of 54,210 shares, compared to its average volume of 131,286. The company has a 50-day moving average of $1.87 and a 200 day moving average of $1.82. The stock has a market cap of $65.04 million, a P/E ratio of 17.92 and a beta of 0.11. Permianville Royalty Trust has a 12-month low of $1.47 and a 12-month high of $2.04.

Permianville Royalty Trust Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 30th were given a dividend of $0.01 per share. This represents a c) dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend was Thursday, April 30th. Permianville Royalty Trust’s dividend payout ratio is 109.09%.

Hedge Funds Weigh In On Permianville Royalty Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PVL. Kestra Private Wealth Services LLC purchased a new position in Permianville Royalty Trust in the 3rd quarter valued at about $37,000. Citadel Advisors LLC boosted its position in 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 buying an additional 40,428 shares during the last quarter. Finally, Susquehanna International Group LLP boosted its position in 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 buying an additional 66,583 shares during the last quarter. 6.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Permianville Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Permianville Royalty Trust Company Profile

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.