Permianville Royalty Trust (NYSE:PVL – Get Free Report) saw a significant decrease in short interest in the month of October. As of October 15th, there was short interest totaling 24,003 shares, a decrease of 62.1% from the September 30th total of 63,306 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 62,991 shares, the days-to-cover ratio is currently 0.4 days.
Permianville Royalty Trust Stock Performance
Shares of Permianville Royalty Trust stock opened at $1.76 on Thursday. The business has a 50-day moving average price of $1.82 and a two-hundred day moving average price of $1.81. The company has a market cap of $58.08 million, a P/E ratio of 10.35 and a beta of 0.17. Permianville Royalty Trust has a 1-year low of $1.58 and a 1-year high of $2.01.
Permianville Royalty Trust (NYSE:PVL – Get Free Report) last issued its quarterly earnings data on Friday, August 14th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $14.79 million during the quarter, compared to analysts’ expectations of $8.70 million.
Permianville Royalty Trust Cuts Dividend
The company also recently announced a monthly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be paid a $0.0150 dividend. The ex-dividend date is Friday, October 30th. This represents a $0.18 annualized dividend and a yield of 10.2%. This is a drop from Permianville Royalty Trust’s previous monthly dividend of $0.0160. Permianville Royalty Trust’s dividend payout ratio is currently 111.76%.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings upgraded shares of Permianville Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 27th. One equities research analyst has rated the stock with a Hold rating. According to data from MarketBeat, Permianville Royalty Trust presently has an average rating of “Hold”.
Read Our Latest Analysis on Permianville Royalty Trust
About Permianville Royalty Trust
Permianville Royalty Trust (NYSE:PVL) is a publicly traded grantor trust that owns royalty and net profits interests in oil and natural gas properties. The trust does not operate wells directly; instead, it receives distributions based on production and the revenues generated by the underlying properties after applicable production and operating costs.
The trust’s interests are concentrated primarily in the Permian Basin of West Texas and southeastern New Mexico, one of the most significant oil- and natural-gas-producing regions in the United States.
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