Permianville Royalty Trust (NYSE:PVL – Get Free Report) issued its earnings results on Friday. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.02, Zacks reports. Permianville Royalty Trust had a net margin of 10.38% and a return on equity of 12.46%.
Permianville Royalty Trust Price Performance
NYSE PVL traded up $0.00 during trading hours on Friday, hitting $1.76. The company’s stock had a trading volume of 21,758 shares, compared to its average volume of 90,229. Permianville Royalty Trust has a 12 month low of $1.58 and a 12 month high of $2.04. The company’s 50 day simple moving average is $1.74 and its two-hundred day simple moving average is $1.80. The company has a market cap of $58.11 million, a P/E ratio of 11.74 and a beta of 0.12.
Permianville Royalty Trust Cuts Dividend
The firm also recently disclosed a monthly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a $0.015 dividend. This represents a c) annualized dividend and a yield of 10.2%. The ex-dividend date is Friday, July 31st. Permianville Royalty Trust’s dividend payout ratio (DPR) is presently 120.00%.
Analysts Set New Price Targets
Get Our Latest Research Report on PVL
Institutional Trading of Permianville Royalty Trust
A number of institutional investors have recently made changes to their positions in PVL. Kestra Private Wealth Services LLC bought a new stake in shares of Permianville Royalty Trust in the third quarter worth approximately $37,000. Citadel Advisors LLC lifted its position in Permianville Royalty Trust by 326.0% during the third 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. Finally, Susquehanna International Group LLP lifted its position in Permianville Royalty Trust by 239.2% during the third 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. Hedge funds and other institutional investors own 6.78% of the company’s stock.
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.
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