Permianville Royalty Trust (NYSE:PVL) Stock Price Up 3.5% – Here’s Why

Permianville Royalty Trust (NYSE:PVL)’s share price rose 3.5% during trading on Tuesday . The stock traded as high as $1.85 and last traded at $1.8110. Approximately 83,229 shares were traded during mid-day trading, an increase of 12% from the average daily volume of 74,095 shares. The stock had previously closed at $1.75.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Permianville Royalty Trust in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Permianville Royalty Trust has a consensus rating of “Hold”.

Permianville Royalty Trust Trading Up 3.5%

The firm has a market capitalization of $59.76 million, a price-to-earnings ratio of 25.87 and a beta of 0.08. The stock has a fifty day moving average of $1.81 and a 200-day moving average of $1.84.

Permianville Royalty Trust (NYSE:PVL) last issued its quarterly earnings results on Friday, November 14th. The company reported $0.02 earnings per share for the quarter. The firm had revenue of $11.57 million for the quarter. Permianville Royalty Trust had a return on equity of 5.04% and a net margin of 4.44%.

Permianville Royalty Trust Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a $0.023 dividend. This represents a c) annualized dividend and a dividend yield of 15.2%. The ex-dividend date was Wednesday, December 31st. Permianville Royalty Trust’s dividend payout ratio is 400.00%.

Hedge Funds Weigh In On Permianville Royalty Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC acquired a new stake in shares of Permianville Royalty Trust in the third quarter worth $37,000. Susquehanna International Group LLP boosted its position 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 worth $171,000 after acquiring an additional 66,583 shares during the period. Citadel Advisors LLC boosted its position in Permianville Royalty Trust by 326.0% during the 3rd quarter. Citadel Advisors LLC now owns 28,028 shares of the company’s stock worth $51,000 after acquiring an additional 40,428 shares during the period. Ashton Thomas Private Wealth LLC increased its holdings in shares of Permianville Royalty Trust by 0.5% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 1,553,904 shares of the company’s stock valued at $2,848,000 after purchasing an additional 7,890 shares during the period. Finally, Clear Harbor Asset Management LLC purchased a new stake in shares of Permianville Royalty Trust in the third quarter worth approximately $81,000. 6.78% of the stock is currently owned by hedge funds and other institutional investors.

About Permianville Royalty Trust

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.