Permianville Royalty Trust (NYSE:PVL) Releases Earnings Results, Beats Expectations By $0.02 EPS

Permianville Royalty Trust (NYSE:PVL) issued its quarterly earnings results on Friday. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02, Zacks reports. The business had revenue of $11.05 million during the quarter, compared to the consensus estimate of $8.90 million. Permianville Royalty Trust had a net margin of 7.47% and a return on equity of 8.63%.

Permianville Royalty Trust Stock Performance

Permianville Royalty Trust stock traded up $0.06 during trading on Friday, reaching $1.97. The company had a trading volume of 54,210 shares, compared to its average volume of 131,286. Permianville Royalty Trust has a 12-month low of $1.47 and a 12-month high of $2.04. The stock’s 50 day moving average price is $1.87 and its two-hundred day moving average price is $1.82. The firm has a market capitalization of $65.04 million, a price-to-earnings ratio of 13.14 and a beta of 0.11.

Permianville Royalty Trust Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 30th were issued a $0.01 dividend. This represents a c) dividend on an annualized basis and a yield of 6.1%. The ex-dividend date was Thursday, April 30th. Permianville Royalty Trust’s payout ratio is presently 109.09%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Permianville Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold”.

Institutional Investors Weigh In On Permianville Royalty Trust

A number of institutional investors have recently bought and sold shares of the stock. Susquehanna International Group LLP grew its holdings in Permianville Royalty Trust by 239.2% in the third quarter. Susquehanna International Group LLP now owns 94,421 shares of the company’s stock valued at $171,000 after purchasing an additional 66,583 shares during the period. Citadel Advisors LLC grew its holdings in 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 during the period. Finally, Kestra Private Wealth Services LLC purchased a new stake in Permianville Royalty Trust in the third quarter valued at approximately $37,000. 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.