Permianville Royalty Trust (NYSE:PVL) Stock Short Interest Falls 62.1%

Key Points

• Short interest plunged 62.1% to 24,003 shares as of October 15, representing approximately 0.1% of PVL’s outstanding shares and just 0.4 days of average trading volume.
• Permianville Royalty Trust reported quarterly EPS of $0.03, beating the $0.01 consensus estimate, while revenue of $14.79 million exceeded expectations of $8.70 million.
• The trust reduced its monthly dividend to $0.015 per share from $0.016, equating to an annualized dividend of $0.18 and a 10.2% yield; analysts maintain a consensus “Hold” rating.

Permianville Royalty Trust (NYSE:PVL - Get Free Report) was the recipient of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totaling 24,003 shares, a decrease of 62.1% from the September 30th total of 63,306 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily volume of 62,991 shares, the short-interest ratio is presently 0.4 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Permianville Royalty Trust from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, August 27th. One equities research analyst has rated the stock with a Hold rating. According to MarketBeat.com, the stock has a consensus rating of "Hold".

Permianville Royalty Trust Price Performance

NYSE PVL opened at $1.76 on Thursday. The company's 50-day simple moving average is $1.82 and its 200 day simple moving average is $1.81. Permianville Royalty Trust has a twelve month low of $1.58 and a twelve month high of $2.01. The stock has a market cap of $58.08 million, a P/E ratio of 10.35 and a beta of 0.17.

Permianville Royalty Trust (NYSE:PVL - Get Free Report) last announced its earnings results on Friday, August 14th. The company reported $0.03 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $8.70 million.

Permianville Royalty Trust Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be issued a $0.0150 dividend. This represents a $0.18 annualized dividend and a yield of 10.2%. This is a drop from Permianville Royalty Trust's previous monthly dividend of $0.0160. The ex-dividend date is Friday, October 30th. Permianville Royalty Trust's dividend payout ratio (DPR) is 111.76%.

About Permianville Royalty Trust

Permianville Royalty Trust NYSE: PVL is a publicly traded grantor trust that owns royalty and net profits interests in oil and natural gas properties. The trust does not operate wells directly; instead, it receives distributions based on production and the revenues generated by the underlying properties after applicable production and operating costs.

The trust's interests are concentrated primarily in the Permian Basin of West Texas and southeastern New Mexico, one of the most significant oil- and natural-gas-producing regions in the United States.

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