MV Oil Trust (NYSE:MVO) Shares Cross Above 200-Day Moving Average - Here's What Happened

Key Points

• MV Oil Trust's share price has recently surpassed its 200-day moving average, indicating a potential shift in trading momentum, with the stock currently priced at $5.89.
• The company has reported a quarterly earnings per share (EPS) of $0.28, alongside revenue of $3.38 million.
• MV Oil Trust has reduced its dividend, now yielding 12.6% with an annualized amount of $0.74, reflecting a dividend payout ratio of 58.73%.

MV Oil Trust (NYSE:MVO - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $5.71 and traded as high as $5.93. MV Oil Trust shares last traded at $5.89, with a volume of 40,383 shares traded.

MV Oil Trust Stock Down 0.9%

The firm's 50-day moving average is $5.81 and its 200-day moving average is $5.73. The company has a market capitalization of $68.59 million, a PE ratio of 4.73 and a beta of -0.01.

MV Oil Trust (NYSE:MVO - Get Free Report) last announced its earnings results on Tuesday, August 12th. The oil and gas producer reported $0.28 earnings per share (EPS) for the quarter. The company had revenue of $3.38 million during the quarter.

MV Oil Trust Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Tuesday, July 15th were given a $0.185 dividend. The ex-dividend date was Tuesday, July 15th. This represents a $0.74 annualized dividend and a yield of 12.4%. MV Oil Trust's payout ratio is 58.73%.

Institutional Trading of MV Oil Trust

Several institutional investors have recently added to or reduced their stakes in MVO. Allworth Financial LP bought a new stake in shares of MV Oil Trust in the 2nd quarter valued at about $55,000. Marshall Wace LLP bought a new stake in shares of MV Oil Trust in the 2nd quarter valued at about $88,000. Janney Montgomery Scott LLC bought a new stake in shares of MV Oil Trust in the 2nd quarter valued at about $92,000. Finally, Kingswood Wealth Advisors LLC bought a new stake in shares of MV Oil Trust in the 1st quarter valued at about $97,000. 3.54% of the stock is currently owned by hedge funds and other institutional investors.

About MV Oil Trust

MV Oil Trust acquires and holds term net profits interests in the oil and natural gas properties of MV Partners, LLC. Its properties wells located in the Mid-Continent region in the states of Kansas and Colorado. MV Oil Trust was incorporated in 2006 and is based in Houston, Texas.