Short Interest in Permianville Royalty Trust (NYSE:PVL) Declines By 85.3%

Permianville Royalty Trust (NYSE:PVL) was the recipient of a significant drop in short interest during the month of May. As of May 15th, there was short interest totaling 11,034 shares, a drop of 85.3% from the April 30th total of 75,195 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average trading volume of 132,375 shares, the days-to-cover ratio is presently 0.1 days.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Permianville Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Permianville Royalty Trust currently has a consensus rating of “Hold”.

Permianville Royalty Trust Trading Down 2.1%

Shares of PVL traded down $0.04 during mid-day trading on Thursday, reaching $1.88. The company’s stock had a trading volume of 46,118 shares, compared to its average volume of 105,510. Permianville Royalty Trust has a 1-year low of $1.58 and a 1-year high of $2.04. The business has a 50-day simple moving average of $1.89 and a two-hundred day simple moving average of $1.82. The stock has a market cap of $62.04 million, a P/E ratio of 12.56 and a beta of 0.11.

Permianville Royalty Trust (NYSE:PVL) last posted its earnings results on Friday, May 15th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. Permianville Royalty Trust had a return on equity of 12.46% and a net margin of 10.38%.The business had revenue of $11.05 million for the quarter, compared to analyst estimates of $8.90 million.

Permianville Royalty Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be given a dividend of $0.014 per share. This is a positive change from Permianville Royalty Trust’s previous monthly dividend of $0.01. This represents a c) dividend on an annualized basis and a yield of 8.9%. The ex-dividend date of this dividend is Friday, May 29th. Permianville Royalty Trust’s payout ratio is 80.00%.

Institutional Trading of Permianville Royalty Trust

A number of institutional investors have recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC boosted its holdings in Permianville Royalty Trust by 0.5% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 1,553,904 shares of the company’s stock valued at $2,848,000 after purchasing an additional 7,890 shares during the period. Kestra Private Wealth Services LLC acquired a new stake in shares of Permianville Royalty Trust in the third quarter valued at approximately $37,000. Citadel Advisors LLC boosted its stake in shares of 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 buying an additional 40,428 shares during the period. Pingora Partners LLC grew 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 worth $1,701,000 after buying an additional 41,386 shares in the last quarter. Finally, Susquehanna International Group LLP grew its position in Permianville Royalty Trust by 239.2% during the third 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 in the last quarter. Institutional investors own 6.78% of the company’s stock.

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.