Permianville Royalty Trust (NYSE:PVL) Short Interest Update

Key Points

• Permianville Royalty Trust experienced a significant decline in short interest, dropping by 85.1% to 9,600 shares as of September 30, indicating a low level of bearish sentiment.
• The company raised its monthly dividend to $0.023, equating to an annualized yield of 15.6%, following a previous dividend of $0.02.
• Wall Street analysts maintain a "hold" rating for Permianville Royalty Trust, with expectations of stable performance amidst its recent positive dividend announcement.

Permianville Royalty Trust (NYSE:PVL - Get Free Report) was the recipient of a large decline in short interest in September. As of September 30th, there was short interest totaling 9,600 shares, a decline of 85.1% from the September 15th total of 64,400 shares. Approximately 0.0% of the company's shares are short sold. Based on an average daily volume of 64,700 shares, the short-interest ratio is presently 0.1 days. Based on an average daily volume of 64,700 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the company's shares are short sold.

Permianville Royalty Trust Price Performance

NYSE PVL traded down $0.03 during trading hours on Friday, reaching $1.77. 47,030 shares of the company's stock traded hands, compared to its average volume of 68,332. Permianville Royalty Trust has a 52-week low of $1.30 and a 52-week high of $2.04. The firm has a market cap of $58.41 million, a PE ratio of 17.70 and a beta of 0.42. The firm has a 50-day simple moving average of $1.89 and a 200 day simple moving average of $1.74.

Permianville Royalty Trust (NYSE:PVL - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $11.22 million during the quarter. Permianville Royalty Trust had a net margin of 5.79% and a return on equity of 7.18%.

Permianville Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a $0.023 dividend. This represents a c) annualized dividend and a yield of 15.6%. This is a boost from Permianville Royalty Trust's previous monthly dividend of $0.02. The ex-dividend date of this dividend was Tuesday, September 30th. Permianville Royalty Trust's dividend payout ratio is presently 280.00%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "hold (c-)" rating on shares of Permianville Royalty Trust in a research report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Permianville Royalty Trust presently has an average rating of "Hold".

About Permianville Royalty Trust

Permianville Royalty Trust operates as a statutory trust. It is involved in the acquisition and holding of net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from properties located in the states of Texas, Louisiana, and New Mexico.

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