Permianville Royalty Trust (NYSE:PVL) Issues Quarterly Earnings Results

Permianville Royalty Trust (NYSE:PVL) posted its quarterly earnings results on Friday. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.02, Zacks reports. Permianville Royalty Trust had a net margin of 7.47% and a return on equity of 8.63%.

Permianville Royalty Trust Stock Performance

Shares of NYSE PVL traded up $0.06 during midday trading on Friday, hitting $1.97. 54,210 shares of the company traded hands, compared to its average volume of 110,907. Permianville Royalty Trust has a 12-month low of $1.47 and a 12-month high of $2.04. The stock has a 50-day moving average price of $1.87 and a 200 day moving average price of $1.82. The firm has a market cap of $65.04 million, a P/E ratio of 17.92 and a beta of 0.11.

Permianville Royalty Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, May 15th. Investors of record on Thursday, April 30th will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 6.1%. Permianville Royalty Trust’s payout ratio is currently 109.09%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Permianville Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Hedge Funds Weigh In On Permianville Royalty Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. Kestra Private Wealth Services LLC purchased a new position in shares of Permianville Royalty Trust during the third quarter valued at about $37,000. Citadel Advisors LLC increased its position in shares of Permianville Royalty Trust by 326.0% during the third quarter. Citadel Advisors LLC now owns 28,028 shares of the company’s stock valued at $51,000 after buying an additional 40,428 shares during the period. Finally, Susquehanna International Group LLP increased its position in shares of Permianville Royalty Trust by 239.2% during the third quarter. Susquehanna International Group LLP now owns 94,421 shares of the company’s stock valued at $171,000 after buying an additional 66,583 shares during the period. Hedge funds and other institutional investors own 6.78% of the company’s stock.

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.