Permianville Royalty Trust (NYSE:PVL) Short Interest Up 282.4% in March

Permianville Royalty Trust (NYSE:PVL) was the target of a large growth in short interest in March. As of March 31st, there was short interest totaling 138,545 shares, a growth of 282.4% from the March 15th total of 36,234 shares. Based on an average daily trading volume, of 123,718 shares, the short-interest ratio is presently 1.1 days. Currently, 0.4% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC boosted its holdings in Permianville Royalty Trust by 0.5% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 1,553,904 shares of the company’s stock valued at $2,848,000 after purchasing an additional 7,890 shares during the period. Kestra Private Wealth Services LLC bought a new stake in shares of Permianville Royalty Trust in the third quarter valued at about $37,000. Citadel Advisors LLC raised its holdings in shares of Permianville Royalty Trust by 326.0% in the third quarter. Citadel Advisors LLC now owns 28,028 shares of the company’s stock valued at $51,000 after acquiring an additional 40,428 shares in the last quarter. Pingora Partners LLC raised its stake in Permianville Royalty Trust by 4.6% in the fourth 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 in the last quarter. Finally, Clear Harbor Asset Management LLC bought a new position in Permianville Royalty Trust in the third quarter worth approximately $81,000. Hedge funds and other institutional investors own 6.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Permianville Royalty Trust in a report on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Permianville Royalty Trust Trading Up 0.3%

Shares of PVL traded up $0.01 during trading hours on Friday, reaching $1.88. 28,724 shares of the company traded hands, compared to its average volume of 105,770. The stock’s fifty day moving average price is $1.80 and its 200 day moving average price is $1.80. Permianville Royalty Trust has a 12-month low of $1.39 and a 12-month high of $2.04. The firm has a market cap of $61.88 million, a price-to-earnings ratio of 17.05 and a beta of 0.12.

Permianville Royalty Trust (NYSE:PVL) last released its quarterly earnings results on Monday, March 23rd. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.06. Permianville Royalty Trust had a return on equity of 8.63% and a net margin of 7.47%.The business had revenue of $13.71 million for the quarter, compared to analysts’ expectations of $8.90 million.

Permianville Royalty Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.01 per share. This is a positive change from Permianville Royalty Trust’s previous monthly dividend of $0.01. This represents a c) dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date is Tuesday, March 31st. Permianville Royalty Trust’s dividend payout ratio is presently 109.09%.

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.