Permianville Royalty Trust (NYSE:PVL) Short Interest Update

Key Points

• Short interest surged 38.8% in March to 36,234 shares (from 26,114), but remains very small at about 0.1% of shares outstanding with a short-interest ratio of just 0.2 days.
• Quarterly results beat expectations: PVL reported $0.08 EPS vs. $0.02 estimated and revenue of $13.71M vs. $8.90M consensus, showing stronger-than-expected performance.
• Dividend yield of 6.3%: the trust declared a monthly $0.01 dividend payable April 14 (ex-dividend March 31), with a payout ratio around 54.6%.

Permianville Royalty Trust (NYSE:PVL - Get Free Report) was the target of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 36,234 shares, a growth of 38.8% from the February 26th total of 26,114 shares. Based on an average daily volume of 182,421 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the shares of the stock are short sold.

Institutional Trading of Permianville Royalty Trust

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Kestra Private Wealth Services LLC purchased a new stake in shares of Permianville Royalty Trust during the third quarter valued at $37,000. Citadel Advisors LLC grew 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 worth $51,000 after purchasing an additional 40,428 shares during the last quarter. Clear Harbor Asset Management LLC purchased a new position in Permianville Royalty Trust in the 3rd quarter worth about $81,000. Susquehanna International Group LLP lifted its holdings 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 valued at $171,000 after buying an additional 66,583 shares in the last quarter. Finally, 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 valued at $1,701,000 after buying an additional 41,386 shares in the last quarter. Hedge funds and other institutional investors own 6.78% of the company's stock.

Permianville Royalty Trust Price Performance

Shares of Permianville Royalty Trust stock traded up $0.03 during trading hours on Friday, reaching $1.89. The company's stock had a trading volume of 134,969 shares, compared to its average volume of 140,655. The firm has a 50 day moving average price of $1.78 and a 200-day moving average price of $1.81. The stock has a market cap of $62.44 million, a P/E ratio of 17.20 and a beta of 0.20. Permianville Royalty Trust has a one year low of $1.30 and a one year high of $2.04.

Permianville Royalty Trust (NYSE:PVL - Get Free Report) last announced its quarterly earnings results on Monday, March 23rd. The company reported $0.08 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.06. The firm had revenue of $13.71 million during the quarter, compared to the consensus estimate of $8.90 million. Permianville Royalty Trust had a net margin of 7.47% and a return on equity of 8.63%.

Permianville Royalty Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st will be issued a $0.01 dividend. This is a positive change from Permianville Royalty Trust's previous monthly dividend of $0.01. The ex-dividend date is Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 6.3%. Permianville Royalty Trust's dividend payout ratio (DPR) is presently 54.55%.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Permianville Royalty Trust in a report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of "Hold".

Permianville Royalty Trust Company Profile

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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