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

Permianville Royalty Trust (NYSE:PVL) released its quarterly earnings data on Friday. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02, Zacks reports. Permianville Royalty Trust had a net margin of 10.38% and a return on equity of 12.46%.

Permianville Royalty Trust Price Performance

Shares of NYSE:PVL opened at $1.76 on Friday. Permianville Royalty Trust has a 1 year low of $1.58 and a 1 year high of $2.04. The company has a market cap of $58.11 million, a P/E ratio of 11.74 and a beta of 0.12. The stock’s fifty day moving average price is $1.74 and its 200-day moving average price is $1.80.

Permianville Royalty Trust Cuts Dividend

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

Institutional Investors Weigh In On Permianville Royalty Trust

Several large investors have recently bought and sold shares of PVL. Susquehanna International Group LLP lifted its stake in Permianville Royalty Trust by 239.2% during the 3rd quarter. Susquehanna International Group LLP now owns 94,421 shares of the company’s stock valued at $171,000 after acquiring an additional 66,583 shares during the period. Citadel Advisors LLC boosted its holdings in shares of Permianville Royalty Trust by 326.0% during the 3rd quarter. Citadel Advisors LLC now owns 28,028 shares of the company’s stock valued at $51,000 after acquiring an additional 40,428 shares during the last quarter. Finally, Kestra Private Wealth Services LLC bought a new stake in shares of Permianville Royalty Trust in the third quarter worth approximately $37,000. 6.78% of the stock is currently owned by institutional investors.

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 Tuesday, July 21st. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

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.