Permianville Royalty Trust (NYSE:PVL) Sees Large Increase in Short Interest

Permianville Royalty Trust (NYSE:PVL) was the target of a large growth in short interest in February. As of February 27th, there was short interest totaling 26,114 shares, a growth of 95.0% from the February 12th total of 13,389 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 105,355 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 105,355 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the shares of the stock are sold short.

Analyst Ratings Changes

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

Permianville Royalty Trust Stock Performance

Permianville Royalty Trust stock traded up $0.02 on Thursday, reaching $1.86. The company’s stock had a trading volume of 71,837 shares, compared to its average volume of 145,482. The business’s fifty day moving average price is $1.77 and its 200 day moving average price is $1.82. The company has a market cap of $61.38 million, a price-to-earnings ratio of 26.57 and a beta of 0.20. Permianville Royalty Trust has a twelve month low of $1.30 and a twelve month high of $2.04.

Permianville Royalty Trust Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, March 13th. Investors of record on Monday, March 2nd will be given a dividend of $0.005 per share. The ex-dividend date is Monday, March 2nd. This represents a c) annualized dividend and a yield of 3.2%. Permianville Royalty Trust’s dividend payout ratio is 85.71%.

Institutional Investors Weigh In On Permianville Royalty Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PVL. Clear Harbor Asset Management LLC bought a new position in shares of Permianville Royalty Trust in the third quarter worth about $81,000. Ashton Thomas Private Wealth LLC grew its stake in shares of Permianville Royalty Trust by 0.5% during the third 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 last quarter. Citadel Advisors LLC increased 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 valued at $51,000 after purchasing an additional 40,428 shares in the last quarter. Susquehanna International Group LLP raised its position in Permianville Royalty Trust by 239.2% in the 3rd quarter. Susquehanna International Group LLP now owns 94,421 shares of the company’s stock worth $171,000 after purchasing an additional 66,583 shares during the last quarter. Finally, Kestra Private Wealth Services LLC bought a new position in Permianville Royalty Trust in the 3rd quarter worth approximately $37,000. Institutional investors and hedge funds own 6.78% of the company’s stock.

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.