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

Permianville Royalty Trust (NYSE:PVL) posted its quarterly earnings results on Friday. The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.01 by $0.02, Zacks reports. Permianville Royalty Trust had a return on equity of 12.46% and a net margin of 10.38%.

Permianville Royalty Trust Stock Performance

PVL stock traded up $0.00 during trading on Friday, reaching $1.76. 21,758 shares of the company were exchanged, compared to its average volume of 90,229. The company has a market cap of $58.11 million, a P/E ratio of 11.74 and a beta of 0.12. Permianville Royalty Trust has a 52-week low of $1.58 and a 52-week high of $2.04. The stock’s 50 day moving average price is $1.74 and its 200 day moving average price is $1.80.

Permianville Royalty Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a dividend of $0.015 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 10.2%. Permianville Royalty Trust’s payout ratio is currently 120.00%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Permianville Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Kestra Private Wealth Services LLC acquired a new stake in shares of Permianville Royalty Trust during the 3rd quarter valued at approximately $37,000. Citadel Advisors LLC grew 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 worth $51,000 after acquiring an additional 40,428 shares during the period. Finally, Susquehanna International Group LLP grew its holdings in shares of 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 acquiring an additional 66,583 shares during the period. 6.78% of the stock is owned by hedge funds and other institutional investors.

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.