MV Oil Trust (NYSE:MVO) Raises Dividend to $0.59 Per Share

MV Oil Trust (NYSE:MVO) announced a quarterly dividend on Thursday, July 2nd. Investors of record on Wednesday, July 15th will be paid a dividend of 0.5938 per share by the oil and gas producer on Friday, July 24th. This represents a c) dividend on an annualized basis and a dividend yield of 142.4%. The ex-dividend date is Wednesday, July 15th. This is a 249.3% increase from MV Oil Trust’s previous quarterly dividend of $0.17.

MV Oil Trust has raised its dividend by an average of 0.1%annually over the last three years.

MV Oil Trust Stock Performance

MVO stock opened at $1.67 on Friday. The firm has a market cap of $19.18 million, a PE ratio of 2.03 and a beta of -0.21. MV Oil Trust has a one year low of $0.97 and a one year high of $6.19. The firm’s 50 day moving average price is $1.89 and its 200-day moving average price is $1.89.

MV Oil Trust (NYSE:MVO) last posted its earnings results on Wednesday, May 13th. The oil and gas producer reported $0.14 earnings per share for the quarter. The company had revenue of $1.84 million during the quarter.

Institutional Trading of MV Oil Trust

A number of large investors have recently bought and sold shares of MVO. Bank of America Corp DE increased its position in MV Oil Trust by 1,614.1% in the 1st quarter. Bank of America Corp DE now owns 55,708 shares of the oil and gas producer’s stock valued at $126,000 after acquiring an additional 52,458 shares during the period. XTX Topco Ltd purchased a new position in shares of MV Oil Trust in the 4th quarter valued at approximately $45,000. HRT Financial LP acquired a new position in shares of MV Oil Trust in the fourth quarter valued at approximately $28,000. Finally, Marshall Wace LLP purchased a new stake in shares of MV Oil Trust during the second quarter worth approximately $88,000. Institutional investors and hedge funds own 3.54% of the company’s stock.

MV Oil Trust Company Profile

MV Oil Trust is an exchange-listed royalty trust that holds overriding royalty and net profits interests in oil and gas properties across the United States. As a non-operating entity, the trust does not engage in exploration or development; instead, it collects a share of production revenues after operating expenses are deducted.

The trust’s interests are primarily concentrated in onshore hydrocarbon fields in West Texas, providing unitholders with exposure to established production streams.