Permianville Royalty Trust (NYSE:PVL) Stock Price Down 0.6% – Here’s What Happened

Permianville Royalty Trust (NYSE:PVL) traded down 0.6% during mid-day trading on Thursday . The stock traded as low as $1.78 and last traded at $1.79. 61,562 shares traded hands during mid-day trading, a decline of 2% from the average daily volume of 63,047 shares. The stock had previously closed at $1.80.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Permianville Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

Permianville Royalty Trust Price Performance

The firm has a market cap of $59.07 million, a price-to-earnings ratio of 11.93 and a beta of 0.11. The firm has a fifty day simple moving average of $1.89 and a two-hundred day simple moving average of $1.83.

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

Permianville Royalty Trust Increases Dividend

The business also recently announced a monthly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were given a dividend of $0.014 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a c) annualized dividend and a yield of 9.4%. This is a boost from Permianville Royalty Trust’s previous monthly dividend of $0.01. Permianville Royalty Trust’s payout ratio is presently 113.33%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC grew its holdings 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 valued at $3,138,000 after buying an additional 167,616 shares during the last quarter. Susquehanna International Group LLP raised its stake in Permianville Royalty Trust by 239.2% in the 3rd quarter. Susquehanna International Group LLP now owns 94,421 shares of the company’s stock worth $171,000 after acquiring an additional 66,583 shares during the last quarter. Pingora Partners LLC raised its stake in Permianville Royalty Trust by 4.6% in the 4th quarter. Pingora Partners LLC now owns 950,410 shares of the company’s stock worth $1,701,000 after acquiring an additional 41,386 shares during the last quarter. Citadel Advisors LLC lifted its position in Permianville Royalty Trust by 326.0% during the 3rd quarter. Citadel Advisors LLC now owns 28,028 shares of the company’s stock worth $51,000 after acquiring an additional 40,428 shares during the period. Finally, Kestra Private Wealth Services LLC acquired a new stake in Permianville Royalty Trust during the 3rd quarter worth about $37,000. Hedge funds and other institutional investors own 6.78% of the company’s stock.

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.