Permianville Royalty Trust (NYSE:PVL) Stock Price Up 3.5% – Here’s Why

Permianville Royalty Trust (NYSE:PVL) shares were up 3.5% during trading on Tuesday . The company traded as high as $1.85 and last traded at $1.8110. Approximately 83,229 shares were traded during trading, an increase of 12% from the average daily volume of 74,095 shares. The stock had previously closed at $1.75.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Permianville Royalty Trust in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold”.

Permianville Royalty Trust Stock Performance

The firm has a market cap of $59.76 million, a P/E ratio of 25.87 and a beta of 0.08. The company has a 50 day moving average of $1.81 and a 200 day moving average of $1.84.

Permianville Royalty Trust (NYSE:PVL) last posted its earnings results on Friday, November 14th. The company reported $0.02 earnings per share (EPS) for the quarter. Permianville Royalty Trust had a net margin of 4.44% and a return on equity of 5.04%. The firm had revenue of $11.57 million during the quarter.

Permianville Royalty Trust Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.023 per share. This represents a c) annualized dividend and a yield of 15.2%. The ex-dividend date of this dividend was Wednesday, December 31st. Permianville Royalty Trust’s dividend payout ratio is presently 400.00%.

Institutional Trading of Permianville Royalty Trust

Several large investors have recently made changes to their positions in the stock. Clear Harbor Asset Management LLC acquired a new position in shares of Permianville Royalty Trust during the 3rd quarter valued at about $81,000. Ashton Thomas Private Wealth LLC boosted its position in Permianville Royalty Trust by 0.5% during the third quarter. Ashton Thomas Private Wealth LLC now owns 1,553,904 shares of the company’s stock worth $2,848,000 after purchasing an additional 7,890 shares during the period. Citadel Advisors LLC boosted its position in Permianville Royalty Trust by 326.0% during the third quarter. Citadel Advisors LLC now owns 28,028 shares of the company’s stock worth $51,000 after purchasing an additional 40,428 shares during the period. Susquehanna International Group LLP grew its holdings in Permianville Royalty Trust by 239.2% during the third 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. Finally, Kestra Private Wealth Services LLC bought a new position in shares of Permianville Royalty Trust in the third quarter valued at approximately $37,000. Institutional investors own 6.78% of the company’s stock.

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.