Short Interest in Permianville Royalty Trust (NYSE:PVL) Expands By 158.6%

Key Points

• Short interest in Permianville Royalty Trust surged 158.6% to 17,928 shares as of July 15, though only about 0.1% of outstanding shares were sold short.
• PVL shares remained flat at $1.70, near the lower end of their 52-week range. The trust announced a $0.015 monthly dividend, representing an annualized yield of approximately 10.6%.
• The company reported quarterly EPS of $0.04, beating estimates by $0.02, while revenue of $11.05 million also exceeded expectations. Analysts maintain a consensus “Hold” rating.

Permianville Royalty Trust (NYSE:PVL - Get Free Report) saw a significant growth in short interest in July. As of July 15th, there was short interest totaling 17,928 shares, a growth of 158.6% from the June 30th total of 6,933 shares. Based on an average daily volume of 62,237 shares, the short-interest ratio is presently 0.3 days. Approximately 0.1% of the shares of the stock are sold short.

Permianville Royalty Trust Price Performance

NYSE PVL remained flat at $1.70 during trading hours on Monday. The company had a trading volume of 27,789 shares, compared to its average volume of 58,045. The stock has a 50-day simple moving average of $1.80 and a 200 day simple moving average of $1.81. Permianville Royalty Trust has a 1 year low of $1.58 and a 1 year high of $2.04. The firm has a market capitalization of $56.10 million, a price-to-earnings ratio of 11.33 and a beta of 0.11.

Permianville Royalty Trust (NYSE:PVL - Get Free Report) last posted its quarterly earnings results on Friday, May 15th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.02 by $0.02. The company had revenue of $11.05 million during the quarter, compared to analysts' expectations of $8.90 million. Permianville Royalty Trust had a return on equity of 12.46% and a net margin of 10.38%.

Permianville Royalty Trust Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a $0.015 dividend. This represents a c) dividend on an annualized basis and a yield of 10.6%. The ex-dividend date is Friday, July 31st. Permianville Royalty Trust's payout ratio is presently 133.33%.

Hedge Funds Weigh In On Permianville Royalty Trust

Institutional investors and hedge funds have recently bought and sold shares of the stock. Citadel Advisors LLC boosted its holdings in shares of Permianville Royalty Trust by 326.0% in the 3rd quarter. Citadel Advisors LLC now owns 28,028 shares of the company's stock valued at $51,000 after purchasing an additional 40,428 shares during the last quarter. Susquehanna International Group LLP grew its stake in shares of 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 during the period. Kestra Private Wealth Services LLC acquired a new stake in shares of Permianville Royalty Trust during the 3rd quarter worth $37,000. Ashton Thomas Private Wealth LLC increased its holdings in shares of Permianville Royalty Trust by 10.8% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 1,721,520 shares of the company's stock worth $3,138,000 after buying an additional 167,616 shares during the last quarter. Finally, Pingora Partners LLC raised its position in shares of Permianville Royalty Trust by 4.6% in 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 period. Institutional investors and hedge funds own 6.78% of the company's stock.

Wall Street Analysts Forecast Growth

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