Permianville Royalty Trust (NYSE:PVL) Shares Shorted: Short Interest Up 145.4% in September

Key Points

• Short interest surged 145.4% to 94,362 shares as of September 15, equal to 0.3% of outstanding shares and 1.7 days of average trading volume.
• Permianville Royalty Trust reported quarterly EPS of $0.03, beating estimates by $0.02, while revenue of $14.79 million exceeded the $8.70 million consensus forecast.
• The trust reduced its monthly dividend to $0.016 per share, representing a 10.6% annualized yield, while analysts maintained a consensus “Hold” rating.

Permianville Royalty Trust (NYSE:PVL - Get Free Report) saw a large increase in short interest in September. As of September 15th, there was short interest totaling 94,362 shares, an increase of 145.4% from the August 31st total of 38,446 shares. Based on an average daily volume of 55,407 shares, the short-interest ratio is presently 1.7 days. Approximately 0.3% of the company's shares are sold short.

Permianville Royalty Trust Stock Performance

Shares of NYSE PVL traded down $0.01 during trading on Friday, hitting $1.81. 42,866 shares of the company traded hands, compared to its average volume of 66,474. The firm has a market capitalization of $59.90 million, a price-to-earnings ratio of 10.68 and a beta of 0.13. The business's fifty day moving average is $1.79 and its 200 day moving average is $1.82. Permianville Royalty Trust has a fifty-two week low of $1.58 and a fifty-two week high of $2.01.

Permianville Royalty Trust (NYSE:PVL - Get Free Report) last issued its earnings results on Friday, August 14th. The company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.02. The business had revenue of $14.79 million during the quarter, compared to analyst estimates of $8.70 million. Permianville Royalty Trust had a return on equity of 15.04% and a net margin of 11.30%.

Permianville Royalty Trust Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th will be given a $0.0160 dividend. This represents a $0.19 annualized dividend and a yield of 10.6%. The ex-dividend date of this dividend is Wednesday, September 30th. This is a decrease from Permianville Royalty Trust's previous monthly dividend of $0.0270. Permianville Royalty Trust's payout ratio is 111.76%.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Permianville Royalty Trust stock. Pingora Partners LLC grew its holdings in shares of Permianville Royalty Trust (NYSE:PVL - Free Report) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 950,410 shares of the company's stock after buying an additional 41,386 shares during the quarter. Permianville Royalty Trust accounts for about 1.0% of Pingora Partners LLC's holdings, making the stock its 21st biggest position. Pingora Partners LLC owned approximately 2.88% of Permianville Royalty Trust worth $1,701,000 as of its most recent SEC filing. Institutional investors and hedge funds own 6.78% of the company's stock.

Analyst Ratings Changes

Separately, Weiss Ratings raised Permianville Royalty Trust from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, August 27th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of "Hold".

Permianville Royalty Trust Company Profile

Permianville Royalty Trust NYSE: PVL is a publicly traded grantor trust that owns royalty and net profits interests in oil and natural gas properties. Rather than operating wells directly, the trust receives distributions generated from the production and sale of hydrocarbons from its underlying interests, after applicable operating and other expenses.

The trust's assets are primarily associated with properties in the Permian Basin of West Texas and southeastern New Mexico. Its interests provide exposure to crude oil, natural gas, and natural gas liquids produced from wells developed and operated by third-party exploration and production companies.

Permianville Royalty Trust was established as Enduro Royalty Trust and adopted its current name in 2018.

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