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

Permianville Royalty Trust (NYSE:PVL) was the recipient of a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 28,364 shares, a growth of 58.2% from the July 15th total of 17,928 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average trading volume of 42,145 shares, the short-interest ratio is presently 0.7 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Kestra Private Wealth Services LLC acquired a new position in Permianville Royalty Trust during the third quarter worth about $37,000. Citadel Advisors LLC grew its holdings in shares of 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 last quarter. Susquehanna International Group LLP grew its holdings in shares of Permianville Royalty Trust by 239.2% during the 3rd quarter. Susquehanna International Group LLP now owns 94,421 shares of the company’s stock valued at $171,000 after purchasing an additional 66,583 shares during the last quarter. 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 worth $1,701,000 after purchasing an additional 41,386 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC increased its position in Permianville Royalty Trust by 10.8% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 1,721,520 shares of the company’s stock worth $3,138,000 after purchasing an additional 167,616 shares in the last quarter. Institutional investors own 6.78% of the company’s stock.

Permianville Royalty Trust Stock Up 1.7%

PVL opened at $1.79 on Wednesday. Permianville Royalty Trust has a twelve month low of $1.58 and a twelve month high of $2.04. The company has a 50-day simple moving average of $1.74 and a 200 day simple moving average of $1.80. The stock has a market capitalization of $59.07 million, a price-to-earnings ratio of 10.53 and a beta of 0.12.

Permianville Royalty Trust (NYSE:PVL) last issued its quarterly earnings results on Friday, August 14th. The company reported $0.03 earnings per share for the quarter, topping 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 14.77%. The company had revenue of $14.79 million during the quarter, compared to the consensus estimate of $8.70 million.

Permianville Royalty Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.027 per share. This is an increase 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 dividend yield of 18.1%. Permianville Royalty Trust’s payout ratio is presently 105.88%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut Permianville Royalty Trust from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

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.