Permianville Royalty Trust (NYSE:PVL – Get Free Report)’s stock price traded down 0.6% during mid-day trading on Thursday . The stock traded as low as $1.78 and last traded at $1.79. Approximately 61,562 shares traded hands during mid-day trading, a decline of 2% from the average daily volume of 63,047 shares. The stock had previously closed at $1.80.
Wall Street Analyst Weigh In
Separately, Weiss Ratings upgraded Permianville Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Permianville Royalty Trust currently has a consensus rating of “Hold”.
Read Our Latest Research Report on PVL
Permianville Royalty Trust Stock Down 0.6%
Permianville Royalty Trust (NYSE:PVL – Get Free Report) last posted its earnings results on Friday, May 15th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. Permianville Royalty Trust had a net margin of 10.38% and a return on equity of 12.46%. The company had revenue of $11.05 million during the quarter, compared to the consensus estimate of $8.90 million.
Permianville Royalty Trust Increases Dividend
The business also recently disclosed a monthly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.017 per share. This represents a c) dividend on an annualized basis and a dividend yield of 11.4%. The ex-dividend date is Tuesday, June 30th. This is an increase from Permianville Royalty Trust’s previous monthly dividend of $0.01. Permianville Royalty Trust’s dividend payout ratio (DPR) is 113.33%.
Institutional Trading of Permianville Royalty Trust
A number of hedge funds have recently modified their holdings of PVL. Kestra Private Wealth Services LLC acquired a new stake in Permianville Royalty Trust during the third quarter worth about $37,000. Citadel Advisors LLC lifted its holdings in 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 during the period. Susquehanna International Group LLP lifted its holdings 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 valued at $171,000 after acquiring an additional 66,583 shares during the period. Pingora Partners LLC boosted its position in 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 in the last quarter. Finally, Ashton Thomas Private Wealth LLC boosted its position in Permianville Royalty Trust by 10.8% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 1,721,520 shares of the company’s stock worth $3,138,000 after purchasing an additional 167,616 shares in the last quarter. Hedge funds and other institutional investors own 6.78% of the company’s stock.
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.
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