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

Permianville Royalty Trust (NYSE:PVL) was the recipient of a significant 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 volume of 123,718 shares, the short-interest ratio is currently 1.1 days. Approximately 0.4% of the company’s stock are short sold.

Permianville Royalty Trust Stock Down 0.3%

PVL stock opened at $1.88 on Monday. The firm has a 50 day moving average of $1.80 and a two-hundred day moving average of $1.80. The company has a market capitalization of $61.88 million, a price-to-earnings ratio of 17.05 and a beta of 0.12. Permianville Royalty Trust has a 12 month low of $1.39 and a 12 month high of $2.04.

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

Permianville Royalty Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 6.4%. This is an increase from Permianville Royalty Trust’s previous monthly dividend of $0.01. Permianville Royalty Trust’s payout ratio is currently 109.09%.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Permianville Royalty Trust in a research report on Friday, March 27th. One analyst has rated the stock with a Hold rating, According to MarketBeat, Permianville Royalty Trust currently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Permianville Royalty Trust

Large investors have recently bought and sold shares of the stock. Ashton Thomas Private Wealth LLC raised its stake in Permianville Royalty Trust by 10.8% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 1,721,520 shares of the company’s stock valued at $3,138,000 after purchasing an additional 167,616 shares during the last quarter. Kestra Private Wealth Services LLC acquired a new position in shares of Permianville Royalty Trust in the 3rd quarter valued at $37,000. Citadel Advisors LLC raised its stake in shares of 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 in the last quarter. Susquehanna International Group LLP grew its holdings in shares of Permianville Royalty Trust by 239.2% in the 3rd quarter. Susquehanna International Group LLP now owns 94,421 shares of the company’s stock worth $171,000 after purchasing an additional 66,583 shares during the last quarter. Finally, Pingora Partners LLC grew its holdings in shares of Permianville Royalty Trust by 4.6% in the 4th quarter. Pingora Partners LLC now owns 950,410 shares of the company’s stock worth $1,701,000 after purchasing an additional 41,386 shares during the last quarter. 6.78% of the stock is currently owned by institutional investors and hedge funds.

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.