Permianville Royalty Trust (NYSE:PVL) Short Interest Update

Key Points

• Short interest fell sharply to 6,960 shares as of August 14, down 75.5% from 28,364 shares on July 30; only about 0.0% of PVL’s shares were short.
• PVL reported quarterly EPS of $0.03, beating the $0.01 consensus estimate, while revenue of $14.79 million exceeded analysts’ $8.70 million forecast.
• The trust raised its monthly dividend to $0.027 per share, implying an annualized yield of 17.8%, although its dividend payout ratio stood at a high 188.24%. Analysts maintained a “Hold” consensus.

Permianville Royalty Trust (NYSE:PVL - Get Free Report) was the recipient of a significant decrease in short interest in August. As of August 14th, there was short interest totaling 6,960 shares, a decrease of 75.5% from the July 30th total of 28,364 shares. Based on an average trading volume of 38,490 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.0% of the shares of the stock are short sold.

Institutional Investors Weigh In On Permianville Royalty Trust

A number of hedge funds have recently added to or reduced their stakes in the stock. Kestra Private Wealth Services LLC bought a new position in shares of Permianville Royalty Trust in the third quarter worth about $37,000. Susquehanna International Group LLP grew 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 last quarter. Citadel Advisors LLC increased its holdings in shares of Permianville Royalty Trust by 326.0% in 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 in the last quarter. Pingora Partners LLC lifted its holdings in Permianville Royalty Trust by 4.6% during the 4th quarter. Pingora Partners LLC now owns 950,410 shares of the company's stock worth $1,701,000 after buying an additional 41,386 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC boosted its position in Permianville Royalty Trust by 10.8% in the 4th 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. Institutional investors own 6.78% of the company's stock.

Permianville Royalty Trust Price Performance

Shares of NYSE:PVL traded up $0.01 during trading on Thursday, reaching $1.82. The stock had a trading volume of 54,680 shares, compared to its average volume of 88,169. Permianville Royalty Trust has a 52 week low of $1.58 and a 52 week high of $2.04. The business's 50-day moving average price is $1.73 and its 200 day moving average price is $1.81. The stock has a market capitalization of $60.06 million, a PE ratio of 10.71 and a beta of 0.12.

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

Permianville Royalty Trust Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a $0.027 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 17.8%. This is a boost from Permianville Royalty Trust's previous monthly dividend of $0.01. The ex-dividend date is Monday, August 31st. Permianville Royalty Trust's dividend payout ratio is 188.24%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Permianville Royalty Trust from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, August 14th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of "Hold".

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.

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