Permianville Royalty Trust (NYSE:PVL) Sees Large Growth in Short Interest

Key Points

• PVL short interest jumped 58.2% to 28,364 shares as of July 31, though short positions represent just 0.1% of shares outstanding and 0.7 days of average trading volume.
• Institutional investors and hedge funds increased their holdings, with notable purchases from Citadel Advisors and Susquehanna International Group; institutions collectively own 6.78% of the trust.
• Permianville Royalty Trust reported quarterly EPS of $0.03 versus the $0.01 consensus and revenue of $14.79 million, while paying a $0.015 monthly dividend with a reported 10.2% yield. The stock remains rated Hold by analysts.

Permianville Royalty Trust (NYSE:PVL - Get Free Report) was the target of a large increase in short interest in July. As of July 31st, there was short interest totaling 28,364 shares, an increase of 58.2% from the July 15th total of 17,928 shares. Based on an average daily volume of 42,145 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.1% of the company's stock are short sold.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PVL. Kestra Private Wealth Services LLC bought a new position in Permianville Royalty Trust in the third quarter valued at $37,000. Citadel Advisors LLC lifted its position in Permianville Royalty Trust by 326.0% during the 3rd quarter. Citadel Advisors LLC now owns 28,028 shares of the company's stock worth $51,000 after buying an additional 40,428 shares in the last quarter. Susquehanna International Group LLP lifted its position in Permianville Royalty Trust by 239.2% during the 3rd quarter. Susquehanna International Group LLP now owns 94,421 shares of the company's stock worth $171,000 after buying an additional 66,583 shares in the last quarter. Pingora Partners LLC boosted its stake in shares of 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 during the last quarter. Finally, Ashton Thomas Private Wealth LLC grew its holdings in shares of 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 acquiring an additional 167,616 shares in the last quarter. Institutional investors and hedge funds own 6.78% of the company's stock.

Permianville Royalty Trust Price Performance

PVL stock opened at $1.76 on Tuesday. The stock has a market capitalization of $58.08 million, a P/E ratio of 10.35 and a beta of 0.12. The business has a 50-day moving average of $1.74 and a 200-day moving average of $1.80. Permianville Royalty Trust has a fifty-two week low of $1.58 and a fifty-two week high of $2.04.

Permianville Royalty Trust (NYSE:PVL - Get Free Report) last posted its quarterly earnings data on Friday, August 14th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.01 by $0.02. Permianville Royalty Trust had a return on equity of 14.77% and a net margin of 11.30%.The business had revenue of $14.79 million during the quarter, compared to the consensus estimate of $8.70 million.

Permianville Royalty Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a $0.015 dividend. The ex-dividend date was Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 10.2%. Permianville Royalty Trust's dividend payout ratio (DPR) is 105.88%.

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 report on Friday. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Permianville Royalty Trust 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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