MV Oil Trust Trading 2.1% Higher After Dividend Announcement (MVO)
MV Oil Trust (NYSE:MVO)’s share price traded up 2.1% during trading on Monday following a dividend announcement from the company, Analyst Ratings Net reports. The stock traded as high as $25.75 and last traded at $25.67, with a volume of 55,259 shares. The stock had previously closed at $25.15.
The newly announced dividend is scheduled for Friday, April 25th. Investors of record on Tuesday, April 15th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 14.00%. The ex-dividend date of this dividend is Friday, April 11th. This is an increase from MV Oil Trust’s previous quarterly dividend of $0.83.
A number of research firms have recently commented on MVO. Analysts at Zacks downgraded shares of MV Oil Trust from an “outperform” rating to a “neutral” rating in a research note on Tuesday, March 11th. They now have a $26.60 price target on the stock. Finally, analysts at Raymond James upgraded shares of MV Oil Trust from an “underperform” rating to a “market perform” rating in a research note on Wednesday, January 8th.
The stock’s 50-day moving average is $24.2 and its 200-day moving average is $25.74. The company has a market cap of $295.6 million and a price-to-earnings ratio of 7.81.
MV Oil Trust (NYSE:MVO) is a statutory trust formed by MV Partners, LLC (MV Partners).
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