Permianville Royalty Trust (NYSE:PVL) Short Interest Down 85.3% in May

Permianville Royalty Trust (NYSE:PVL) was the target of a significant decline in short interest in the month of May. As of May 15th, there was short interest totaling 11,034 shares, a decline of 85.3% from the April 30th total of 75,195 shares. Based on an average trading volume of 132,375 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.0% of the company’s shares are sold short.

Permianville Royalty Trust Price Performance

Permianville Royalty Trust stock traded down $0.01 during trading hours on Friday, hitting $1.91. The company had a trading volume of 46,057 shares, compared to its average volume of 96,021. The firm has a market capitalization of $62.87 million, a P/E ratio of 12.70 and a beta of 0.11. The firm’s fifty day moving average is $1.89 and its 200-day moving average is $1.82. Permianville Royalty Trust has a fifty-two week low of $1.58 and a fifty-two week high of $2.04.

Permianville Royalty Trust (NYSE:PVL) last released its quarterly earnings data on Friday, May 15th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.02. The firm had revenue of $11.05 million for the quarter, compared to analyst estimates of $8.90 million. Permianville Royalty Trust had a net margin of 10.38% and a return on equity of 12.46%.

Permianville Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be paid a $0.014 dividend. The ex-dividend date is Friday, May 29th. This represents a c) annualized dividend and a yield of 8.8%. This is a boost from Permianville Royalty Trust’s previous monthly dividend of $0.01. Permianville Royalty Trust’s dividend payout ratio (DPR) is currently 80.00%.

Institutional Trading of Permianville Royalty Trust

Several large investors have recently added to or reduced their stakes in PVL. Ashton Thomas Private Wealth LLC grew its position in Permianville Royalty Trust by 10.8% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 1,721,520 shares of the company’s stock worth $3,138,000 after acquiring an additional 167,616 shares in the last quarter. Susquehanna International Group LLP grew its position in Permianville Royalty Trust by 239.2% in the third quarter. Susquehanna International Group LLP now owns 94,421 shares of the company’s stock worth $171,000 after acquiring an additional 66,583 shares in the last quarter. Pingora Partners LLC grew its position 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 acquiring an additional 41,386 shares in the last quarter. Citadel Advisors LLC grew its position in Permianville Royalty Trust by 326.0% in the third quarter. Citadel Advisors LLC now owns 28,028 shares of the company’s stock worth $51,000 after acquiring an additional 40,428 shares in the last quarter. Finally, Kestra Private Wealth Services LLC bought a new stake in Permianville Royalty Trust in the third quarter worth approximately $37,000. 6.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Permianville Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 29th. One 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.