Permianville Royalty Trust (NYSE:PVL) Shares Down 0.8%

Permianville Royalty Trust (NYSE:PVL)’s share price fell 0.8% during trading on Monday . The stock traded as low as $2.50 and last traded at $2.53. 67,055 shares changed hands during trading, a decline of 57% from the average session volume of 156,008 shares. The stock had previously closed at $2.55.

Permianville Royalty Trust Trading Down 0.8 %

The firm has a 50-day moving average of $2.75 and a 200 day moving average of $2.58. The company has a market cap of $83.49 million, a P/E ratio of 5.88 and a beta of 1.33.

Permianville Royalty Trust (NYSE:PVL) last announced its earnings results on Monday, August 14th. The company reported $0.06 EPS for the quarter. Permianville Royalty Trust had a return on equity of 23.97% and a net margin of 23.82%. The company had revenue of $11.33 million for the quarter.

Permianville Royalty Trust Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were given a dividend of $0.009 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.11 annualized dividend and a dividend yield of 4.27%. Permianville Royalty Trust’s payout ratio is 25.58%.

Insider Activity at Permianville Royalty Trust

In related news, major shareholder Permianville Holdings Llc sold 21,600 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $3.04, for a total transaction of $65,664.00. Following the transaction, the insider now directly owns 7,488,110 shares of the company’s stock, valued at approximately $22,763,854.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold a total of 95,319 shares of company stock worth $284,832 in the last 90 days.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Northstar Advisory Group LLC acquired a new position in Permianville Royalty Trust during the 1st quarter worth approximately $27,000. Wells Fargo & Company MN raised its stake in shares of Permianville Royalty Trust by 7.3% in the second quarter. Wells Fargo & Company MN now owns 897,645 shares of the company’s stock worth $2,244,000 after purchasing an additional 60,809 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Permianville Royalty Trust in the first quarter worth approximately $171,000. Citadel Advisors LLC purchased a new stake in shares of Permianville Royalty Trust in the third quarter worth approximately $152,000. Finally, Occudo Quantitative Strategies LP raised its stake in shares of Permianville Royalty Trust by 15.4% in the second quarter. Occudo Quantitative Strategies LP now owns 41,080 shares of the company’s stock worth $137,000 after purchasing an additional 5,483 shares during the last quarter. 5.54% of the stock is owned by institutional investors and hedge funds.

About Permianville Royalty Trust

Permianville Royalty Trust operates as a statutory trust. It acquires and holds net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from properties located in the states of Texas, Louisiana, and New Mexico. The company was formerly known as Enduro Royalty Trust and changed its name to Permianville Royalty Trust in September 2018.