Permianville Royalty Trust (NYSE:PVL) Issues Earnings Results

Permianville Royalty Trust (NYSE:PVL) announced its quarterly earnings results on Friday. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02, Zacks reports. Permianville Royalty Trust had a return on equity of 12.46% and a net margin of 10.38%.The company had revenue of $14.79 million during the quarter, compared to analyst estimates of $8.70 million.

Permianville Royalty Trust Price Performance

NYSE PVL opened at $1.76 on Friday. Permianville Royalty Trust has a 12 month low of $1.58 and a 12 month high of $2.04. The firm has a market capitalization of $58.11 million, a PE ratio of 10.36 and a beta of 0.12. The company’s 50 day simple moving average is $1.74 and its 200 day simple moving average is $1.80.

Permianville Royalty Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were paid a dividend of $0.015 per share. This represents a c) dividend on an annualized basis and a dividend yield of 10.2%. The ex-dividend date was Friday, July 31st. Permianville Royalty Trust’s dividend payout ratio (DPR) is currently 120.00%.

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 Tuesday, July 21st. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold”.

Hedge Funds Weigh In On Permianville Royalty Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC acquired a new position in shares of Permianville Royalty Trust during the 3rd quarter valued at $37,000. Susquehanna International Group LLP raised its stake 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 in the last quarter. Finally, Citadel Advisors LLC lifted its holdings 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. 6.78% of the stock is owned by institutional investors.

Permianville Royalty Trust Company Profile

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.