Permianville Royalty Trust (NYSE:PVL – Get Free Report) was the target of a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 6,933 shares, a drop of 64.9% from the June 15th total of 19,735 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average trading volume of 92,272 shares, the short-interest ratio is currently 0.1 days.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings lowered shares of Permianville Royalty Trust from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold”.
Check Out Our Latest Research Report on PVL
Institutional Inflows and Outflows
Permianville Royalty Trust Trading Down 0.6%
NYSE:PVL opened at $1.66 on Monday. The firm has a fifty day simple moving average of $1.84 and a 200 day simple moving average of $1.82. Permianville Royalty Trust has a 1-year low of $1.58 and a 1-year high of $2.04. The stock has a market capitalization of $54.78 million, a PE ratio of 11.07 and a beta of 0.11.
Permianville Royalty Trust (NYSE:PVL – Get Free Report) last issued 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. The company had revenue of $11.05 million for the quarter, compared to analysts’ expectations 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 Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.017 dividend. This is an increase from Permianville Royalty Trust’s previous monthly dividend of $0.01. This represents a c) annualized dividend and a dividend yield of 12.3%. The ex-dividend date is Tuesday, June 30th. Permianville Royalty Trust’s dividend payout ratio is presently 133.33%.
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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