Permianville Royalty Trust (NYSE:PVL) Short Interest Up 452.4% in August

Permianville Royalty Trust (NYSE:PVLGet Free Report) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 38,446 shares, an increase of 452.4% from the August 15th total of 6,960 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average trading volume of 85,999 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PVL. Susquehanna International Group LLP grew its position 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 buying an additional 66,583 shares during the last quarter. Pingora Partners LLC lifted its position in Permianville Royalty Trust by 4.6% during the fourth quarter. Pingora Partners LLC now owns 950,410 shares of the company’s stock valued at $1,701,000 after acquiring an additional 41,386 shares during the last quarter. 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 acquiring an additional 40,428 shares during the last quarter. Finally, Kestra Private Wealth Services LLC acquired a new stake in Permianville Royalty Trust in the third quarter valued at approximately $37,000. 6.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Permianville Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 27th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Read Our Latest Report on PVL

Permianville Royalty Trust Stock Up 1.4%

Shares of PVL stock traded up $0.03 on Friday, hitting $1.88. The stock had a trading volume of 29,760 shares, compared to its average volume of 67,580. Permianville Royalty Trust has a one year low of $1.58 and a one year high of $2.04. The business has a 50 day moving average price of $1.76 and a 200 day moving average price of $1.81. The company has a market cap of $61.88 million, a PE ratio of 11.03 and a beta of 0.13.

Permianville Royalty Trust (NYSE:PVLGet Free Report) last issued its earnings results on Friday, August 14th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.02. Permianville Royalty Trust had a net margin of 11.30% and a return on equity of 15.04%. The company had revenue of $14.79 million for the quarter, compared to analysts’ expectations of $8.70 million.

Permianville Royalty Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a dividend of $0.027 per share. This is a boost from Permianville Royalty Trust’s previous monthly dividend of $0.01. The ex-dividend date of this dividend is Monday, August 31st. This represents a c) annualized dividend and a yield of 17.3%. Permianville Royalty Trust’s payout ratio is 188.24%.

About Permianville Royalty Trust

(Get Free Report)

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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