MV Oil Trust (NYSE:MVO) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

MV Oil Trust (NYSE:MVO) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.06 and traded as high as $2.06. MV Oil Trust shares last traded at $1.8840, with a volume of 183,162 shares trading hands.

Analysts Set New Price Targets

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

MV Oil Trust Trading Up 2.0%

The stock has a market capitalization of $21.46 million, a PE ratio of 2.28 and a beta of -0.11. The firm has a 50 day moving average price of $2.37 and a 200 day moving average price of $2.04.

MV Oil Trust (NYSE:MVO) last posted its quarterly earnings data on Wednesday, May 13th. The oil and gas producer reported $0.14 EPS for the quarter. The company had revenue of $1.84 million during the quarter.

MV Oil Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Stockholders of record on Wednesday, April 15th were paid a $0.17 dividend. This is a positive change from MV Oil Trust’s previous quarterly dividend of $0.14. The ex-dividend date was Wednesday, April 15th. This represents a $0.68 annualized dividend and a dividend yield of 36.4%. MV Oil Trust’s dividend payout ratio (DPR) is currently 82.93%.

Institutional Investors Weigh In On MV Oil Trust

Several hedge funds and other institutional investors have recently modified their holdings of MVO. HRT Financial LP purchased a new stake in MV Oil Trust in the 4th quarter worth $28,000. XTX Topco Ltd purchased a new stake in MV Oil Trust in the 4th quarter worth $45,000. Marshall Wace LLP purchased a new stake in MV Oil Trust in the 2nd quarter worth $88,000. Finally, Bank of America Corp DE increased its stake in MV Oil Trust by 1,614.1% in the 1st quarter. Bank of America Corp DE now owns 55,708 shares of the oil and gas producer’s stock worth $126,000 after buying an additional 52,458 shares in the last quarter. 3.54% of the stock is currently owned by hedge funds and other institutional investors.

MV Oil Trust Company Profile

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.