Permianville Royalty Trust (NYSE:PVL) Stock Price Down 0.3% - Here's Why

Key Points

• The share price of Permianville Royalty Trust (NYSE:PVL) declined by 0.3%, trading at $1.86 with a market cap of $61.22 million.
• The stock experienced a notable 48% decline in trading volume compared to its average daily volume, with 28,062 shares exchanged on the latest trading day.
• Mariner LLC, a hedge fund, recently acquired a new stake in the company, purchasing 20,004 shares valued at approximately $27,000.

Permianville Royalty Trust (NYSE:PVL - Get Free Report)'s share price dropped 0.3% during mid-day trading on Thursday . The stock traded as low as $1.85 and last traded at $1.86. Approximately 28,062 shares changed hands during trading, a decline of 48% from the average daily volume of 53,745 shares. The stock had previously closed at $1.86.

Permianville Royalty Trust Stock Down 0.3%

The stock has a market cap of $61.22 million, a price-to-earnings ratio of 20.61 and a beta of 0.46. The business's fifty day moving average is $1.83 and its two-hundred day moving average is $1.61.

Permianville Royalty Trust (NYSE:PVL - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported $0.01 EPS for the quarter. Permianville Royalty Trust had a net margin of 4.64% and a return on equity of 6.28%.

Hedge Funds Weigh In On Permianville Royalty Trust

A hedge fund recently bought a new stake in Permianville Royalty Trust stock. Mariner LLC purchased a new position in shares of Permianville Royalty Trust (NYSE:PVL - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 20,004 shares of the company's stock, valued at approximately $27,000. Mariner LLC owned about 0.06% of Permianville Royalty Trust at the end of the most recent reporting period. 6.78% of the stock is currently owned by institutional investors.

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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