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

Key Points

• MV Oil Trust (NYSE:MVO) shares recently surpassed their 200-day moving average, trading at $5.86 with a high of $5.95.
• The company announced an increase in its quarterly dividend to $0.205 per share, providing a yield of 14.0% for shareholders.
• Weiss Ratings issued a "sell (d+)" rating for the stock, which currently holds an average rating of "Sell" from analysts.

MV Oil Trust (NYSE:MVO - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.84 and traded as high as $5.95. MV Oil Trust shares last traded at $5.86, with a volume of 114,721 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "sell (d+)" rating on shares of MV Oil Trust in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of "Sell".

MV Oil Trust Trading Up 1.4%

The stock has a 50 day simple moving average of $5.90 and a 200-day simple moving average of $5.84. The firm has a market capitalization of $67.39 million, a P/E ratio of 4.65 and a beta of -0.11.

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

MV Oil Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Wednesday, October 15th will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 14.0%. This is a positive change from MV Oil Trust's previous quarterly dividend of $0.19. The ex-dividend date is Wednesday, October 15th. MV Oil Trust's dividend payout ratio (DPR) is presently 58.73%.

Institutional Investors Weigh In On MV Oil Trust

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

MV Oil Trust Company Profile

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.

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