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

Permianville Royalty Trust (NYSE:PVL) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 38,446 shares, a growth 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 daily volume of 85,999 shares, the short-interest ratio is currently 0.4 days.

Permianville Royalty Trust Trading Up 0.6%

Shares of NYSE:PVL traded up $0.01 during trading on Friday, reaching $1.86. 9,915 shares of the company traded hands, compared to its average volume of 88,069. The firm has a market capitalization of $61.41 million, a price-to-earnings ratio of 10.95 and a beta of 0.13. Permianville Royalty Trust has a 52-week low of $1.58 and a 52-week high of $2.04. The business’s fifty day moving average is $1.76 and its 200-day moving average is $1.81.

Permianville Royalty Trust (NYSE:PVL) last issued its earnings results on Friday, August 14th. The company reported $0.03 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 the consensus estimate of $8.70 million.

Permianville Royalty Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a $0.027 dividend. 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) dividend on an annualized basis and a yield of 17.4%. Permianville Royalty Trust’s payout ratio is 188.24%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Permianville Royalty Trust

Several hedge funds and other institutional investors have recently modified their holdings of the company. Kestra Private Wealth Services LLC purchased a new stake in Permianville Royalty Trust in the third quarter worth $37,000. Citadel Advisors LLC increased its position in Permianville Royalty Trust by 326.0% during the 3rd quarter. Citadel Advisors LLC now owns 28,028 shares of the company’s stock valued at $51,000 after purchasing an additional 40,428 shares during the period. Pingora Partners LLC increased its position in Permianville Royalty Trust by 4.6% during the 4th quarter. Pingora Partners LLC now owns 950,410 shares of the company’s stock valued at $1,701,000 after purchasing an additional 41,386 shares during the period. Finally, Susquehanna International Group LLP raised its holdings in 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 purchasing an additional 66,583 shares in the last quarter. 6.78% of the stock is owned by institutional investors.

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.