Permianville Royalty Trust (NYSE:PVL) Announces Quarterly Earnings Results

Key Points

• Permianville Royalty Trust reported quarterly EPS of $0.03, exceeding the consensus estimate of $0.01. The trust posted a 10.38% net margin and 12.46% return on equity.
• The trust declared a monthly dividend of $0.015 per share, implying a roughly 10.2% annualized yield. Its 120% dividend payout ratio suggests distributions exceed reported earnings.
• PVL shares were little changed at $1.76, while analysts maintained a consensus “Hold” rating. Institutional investors own 6.78% of the stock, with several hedge funds increasing their positions.

Permianville Royalty Trust (NYSE:PVL - Get Free Report) released its quarterly earnings data on Friday. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.02, Zacks reports. Permianville Royalty Trust had a net margin of 10.38% and a return on equity of 12.46%.

Permianville Royalty Trust Stock Up 0.1%

Shares of NYSE PVL traded up $0.00 during mid-day trading on Friday, hitting $1.76. 21,758 shares of the company were exchanged, compared to its average volume of 90,229. The stock has a 50 day simple moving average of $1.74 and a 200-day simple moving average of $1.80. Permianville Royalty Trust has a 1-year low of $1.58 and a 1-year high of $2.04. The firm has a market cap of $58.11 million, a price-to-earnings ratio of 11.74 and a beta of 0.12.

Permianville Royalty Trust Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a dividend of $0.015 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 10.2%. Permianville Royalty Trust's dividend payout ratio (DPR) is currently 120.00%.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Permianville Royalty Trust from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of "Hold".

Hedge Funds Weigh In On Permianville Royalty Trust

A number of large investors have recently bought and sold shares of the company. Kestra Private Wealth Services LLC acquired a new stake in shares of Permianville Royalty Trust in the 3rd quarter worth $37,000. Citadel Advisors LLC boosted 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 acquiring an additional 40,428 shares in the last quarter. Finally, Susquehanna International Group LLP increased 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 worth $171,000 after acquiring an additional 66,583 shares during the period. Hedge funds and other institutional investors own 6.78% of the company's stock.

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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