MV Oil Trust (NYSE:MVO) to Issue Dividend Increase – $0.59 Per Share

MV Oil Trust (NYSE:MVO) announced a quarterly dividend on Thursday, July 2nd. Investors of record on Wednesday, July 15th will be given a dividend of 0.5938 per share by the oil and gas producer on Friday, July 24th. This represents a c) dividend on an annualized basis and a dividend yield of 142.4%. The ex-dividend date of this dividend is Wednesday, July 15th. This is a 249.3% increase from MV Oil Trust’s previous quarterly dividend of $0.17.

MV Oil Trust has raised its dividend payment by an average of 0.1%annually over the last three years.

MV Oil Trust Stock Performance

MV Oil Trust stock opened at $1.67 on Friday. The company has a market cap of $19.18 million, a P/E ratio of 2.03 and a beta of -0.21. MV Oil Trust has a one year low of $0.97 and a one year high of $6.19. The business has a fifty day moving average of $1.89 and a two-hundred day moving average of $1.89.

MV Oil Trust (NYSE:MVO) last issued its quarterly earnings data on Wednesday, May 13th. The oil and gas producer reported $0.14 earnings per share (EPS) for the quarter. The firm had revenue of $1.84 million for the quarter.

Institutional Investors Weigh In On MV Oil Trust

Several large investors have recently added to or reduced their stakes in MVO. Marshall Wace LLP acquired a new stake in shares of MV Oil Trust in the second quarter valued at approximately $88,000. HRT Financial LP bought a new position in MV Oil Trust in the 4th quarter valued at about $28,000. XTX Topco Ltd bought a new stake in shares of MV Oil Trust during the 4th quarter worth about $45,000. Finally, Bank of America Corp DE boosted its holdings in shares of MV Oil Trust by 1,614.1% in the first quarter. Bank of America Corp DE now owns 55,708 shares of the oil and gas producer’s stock valued at $126,000 after acquiring an additional 52,458 shares in the last quarter. 3.54% of the stock is owned by institutional investors and hedge funds.

MV Oil Trust Company Profile

MV Oil Trust is an exchange-listed royalty trust that holds overriding royalty and net profits interests in oil and gas properties across the United States. As a non-operating entity, the trust does not engage in exploration or development; instead, it collects a share of production revenues after operating expenses are deducted.

The trust’s interests are primarily concentrated in onshore hydrocarbon fields in West Texas, providing unitholders with exposure to established production streams.