Short Interest in Permianville Royalty Trust (NYSE:PVL) Expands By 158.6%

Permianville Royalty Trust (NYSE:PVL) saw a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 17,928 shares, a growth of 158.6% from the June 30th total of 6,933 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average trading volume of 62,237 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds Weigh In On Permianville Royalty Trust

A number of institutional investors and hedge funds have recently bought and sold shares of PVL. Kestra Private Wealth Services LLC acquired a new stake in Permianville Royalty Trust in the third quarter valued at approximately $37,000. Citadel Advisors LLC raised its stake in shares of Permianville Royalty Trust by 326.0% during the third quarter. Citadel Advisors LLC now owns 28,028 shares of the company’s stock valued at $51,000 after purchasing an additional 40,428 shares during the period. Susquehanna International Group LLP raised its stake in shares of 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 period. Pingora Partners LLC lifted its position in shares of Permianville Royalty Trust by 4.6% during the fourth quarter. Pingora Partners LLC now owns 950,410 shares of the company’s stock worth $1,701,000 after purchasing an additional 41,386 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its position in shares of Permianville Royalty Trust by 10.8% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 1,721,520 shares of the company’s stock worth $3,138,000 after purchasing an additional 167,616 shares in the last quarter. Hedge funds and other institutional investors own 6.78% of the company’s stock.

Permianville Royalty Trust Price Performance

NYSE:PVL remained flat at $1.70 during mid-day trading on Monday. The company’s stock had a trading volume of 27,789 shares, compared to its average volume of 58,045. The business has a 50-day simple moving average of $1.80 and a two-hundred day simple moving average of $1.81. Permianville Royalty Trust has a one year low of $1.58 and a one year high of $2.04. The company has a market capitalization of $56.10 million, a price-to-earnings ratio of 11.33 and a beta of 0.11.

Permianville Royalty Trust (NYSE:PVL) last issued 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 company had revenue of $11.05 million for the quarter, compared to analysts’ expectations of $8.90 million.

Permianville Royalty Trust Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a dividend of $0.015 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) annualized dividend and a yield of 10.6%. Permianville Royalty Trust’s payout ratio is 133.33%.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Permianville Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

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.