Permianville Royalty Trust (NYSE:PVL) Sees Large Increase in Short Interest

Permianville Royalty Trust (NYSE:PVL) saw a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 26,114 shares, a growth of 95.0% from the February 12th total of 13,389 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 105,355 shares, the short-interest ratio is currently 0.2 days. Based on an average daily trading volume, of 105,355 shares, the short-interest ratio is currently 0.2 days. Approximately 0.1% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Permianville Royalty Trust in a research note on Monday, December 29th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Permianville Royalty Trust currently has an average rating of “Hold”.

Institutional Investors Weigh In On Permianville Royalty Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Clear Harbor Asset Management LLC acquired a new position in Permianville Royalty Trust in the third quarter valued at about $81,000. Ashton Thomas Private Wealth LLC grew its position in shares of Permianville Royalty Trust by 0.5% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 1,553,904 shares of the company’s stock worth $2,848,000 after buying an additional 7,890 shares during the period. Citadel Advisors LLC increased 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 acquiring an additional 40,428 shares during the last quarter. Susquehanna International Group LLP raised 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 valued at $171,000 after acquiring an additional 66,583 shares during the period. Finally, Kestra Private Wealth Services LLC bought a new position in Permianville Royalty Trust during the 3rd quarter worth approximately $37,000. Institutional investors own 6.78% of the company’s stock.

Permianville Royalty Trust Stock Performance

PVL traded up $0.02 during trading on Thursday, reaching $1.86. 71,837 shares of the company’s stock were exchanged, compared to its average volume of 145,482. The company’s fifty day moving average price is $1.77 and its 200-day moving average price is $1.82. Permianville Royalty Trust has a fifty-two week low of $1.30 and a fifty-two week high of $2.04. The firm has a market capitalization of $61.38 million, a PE ratio of 26.57 and a beta of 0.20.

Permianville Royalty Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, March 13th. Investors of record on Monday, March 2nd will be paid a dividend of $0.005 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 3.2%. Permianville Royalty Trust’s payout ratio is 85.71%.

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.