Short Interest in Permianville Royalty Trust (NYSE:PVL) Drops By 64.9%

Permianville Royalty Trust (NYSE:PVL) was the recipient of a significant drop in short interest during the month of June. As of June 30th, there was short interest totaling 6,933 shares, a drop of 64.9% from the June 15th total of 19,735 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily volume of 92,272 shares, the short-interest ratio is currently 0.1 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Permianville Royalty Trust from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Permianville Royalty Trust presently has an average rating of “Hold”.

Permianville Royalty Trust Price Performance

PVL stock opened at $1.66 on Monday. The stock has a market capitalization of $54.78 million, a price-to-earnings ratio of 11.07 and a beta of 0.11. The company has a 50-day moving average of $1.84 and a two-hundred day moving average of $1.82. Permianville Royalty Trust has a 52-week low of $1.58 and a 52-week high of $2.04.

Permianville Royalty Trust (NYSE:PVL) last posted its quarterly earnings data on Friday, May 15th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. Permianville Royalty Trust had a return on equity of 12.46% and a net margin of 10.38%.The business had revenue of $11.05 million for the quarter, compared to analyst estimates of $8.90 million.

Permianville Royalty Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.017 per share. This represents a c) annualized dividend and a yield of 12.3%. The ex-dividend date is Tuesday, June 30th. This is an increase from Permianville Royalty Trust’s previous monthly dividend of $0.01. Permianville Royalty Trust’s dividend payout ratio is currently 133.33%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Citadel Advisors LLC lifted its stake 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 lifted its position in Permianville Royalty Trust by 239.2% during 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. Kestra Private Wealth Services LLC acquired a new position in shares of Permianville Royalty Trust during the third quarter worth approximately $37,000. Ashton Thomas Private Wealth LLC boosted its position in Permianville Royalty Trust by 10.8% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 1,721,520 shares of the company’s stock valued at $3,138,000 after buying an additional 167,616 shares during the last quarter. Finally, Pingora Partners LLC boosted its holdings in Permianville Royalty Trust by 4.6% in the fourth quarter. Pingora Partners LLC now owns 950,410 shares of the company’s stock valued at $1,701,000 after acquiring an additional 41,386 shares during the last quarter. 6.78% of the stock is owned by institutional investors.

About Permianville Royalty Trust

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.