MV Oil Trust (NYSE:MVO) Stock Price Passes Above 200 Day Moving Average of $12.09

Shares of MV Oil Trust (NYSE:MVO) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.09 and traded as high as $13.25. MV Oil Trust shares last traded at $13.25, with a volume of 66,549 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered MV Oil Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th.

MV Oil Trust Stock Up 3.4 %

The stock has a 50 day simple moving average of $12.51 and a two-hundred day simple moving average of $12.09. The stock has a market capitalization of $152.38 million, a P/E ratio of 6.58 and a beta of 0.94.

MV Oil Trust (NYSE:MVO) last released its quarterly earnings data on Thursday, August 10th. The oil and gas producer reported $0.35 earnings per share (EPS) for the quarter. The business had revenue of $4.39 million during the quarter.

MV Oil Trust Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Monday, July 17th were issued a $0.325 dividend. The ex-dividend date of this dividend was Friday, July 14th. This represents a $1.30 annualized dividend and a yield of 9.81%.

Hedge Funds Weigh In On MV Oil Trust

Several hedge funds and other institutional investors have recently modified their holdings of MVO. Royal Bank of Canada lifted its holdings in MV Oil Trust by 500.0% during the 2nd quarter. Royal Bank of Canada now owns 4,200 shares of the oil and gas producer’s stock worth $54,000 after buying an additional 3,500 shares during the period. BNP Paribas Arbitrage SNC bought a new stake in MV Oil Trust during the 2nd quarter worth approximately $48,000. Janney Montgomery Scott LLC increased its holdings in MV Oil Trust by 65.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 16,680 shares of the oil and gas producer’s stock worth $213,000 after purchasing an additional 6,623 shares in the last quarter. Selective Wealth Management Inc. bought a new position in shares of MV Oil Trust in the second quarter valued at approximately $1,089,000. Finally, BlackRock Inc. grew its holdings in shares of MV Oil Trust by 13.2% in the first quarter. BlackRock Inc. now owns 9,267 shares of the oil and gas producer’s stock valued at $110,000 after acquiring an additional 1,078 shares in the last quarter. Institutional investors own 2.68% of the company’s stock.

MV Oil Trust Company Profile

MV Oil Trust acquires and holds term net profits interests in the oil and natural gas properties of MV Partners, LLC. Its properties include approximately 860 producing oil and gas wells located in the Mid-Continent region in the states of Kansas and Colorado. The company was incorporated in 2006 and is based in Houston, Texas.