Permianville Royalty Trust (NYSE:PVL) Shares Shorted: Short Interest Up 145.4% in September

Permianville Royalty Trust (NYSE:PVL) was the target of a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 94,362 shares, a growth of 145.4% from the August 31st total of 38,446 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average daily volume of 55,407 shares, the short-interest ratio is currently 1.7 days.

Institutional Investors Weigh In On Permianville Royalty Trust

A hedge fund recently raised its position in Permianville Royalty Trust stock. Pingora Partners LLC increased its stake in Permianville Royalty Trust (NYSE:PVL) by 4.6% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 950,410 shares of the company’s stock after buying an additional 41,386 shares during the quarter. Permianville Royalty Trust accounts for approximately 1.0% of Pingora Partners LLC’s portfolio, making the stock its 21st largest holding. Pingora Partners LLC owned 2.88% of Permianville Royalty Trust worth $1,701,000 as of its most recent SEC filing. 6.78% of the stock is currently owned by institutional investors.

Permianville Royalty Trust Stock Performance

NYSE:PVL traded down $0.01 on Friday, hitting $1.81. The stock had a trading volume of 42,866 shares, compared to its average volume of 66,474. The stock has a market cap of $59.90 million, a P/E ratio of 10.68 and a beta of 0.13. Permianville Royalty Trust has a 1 year low of $1.58 and a 1 year high of $2.01. The firm’s fifty day simple moving average is $1.79 and its two-hundred day simple moving average is $1.82.

Permianville Royalty Trust (NYSE:PVL) last announced its earnings results on Friday, August 14th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $14.79 million for the quarter, compared to the consensus estimate of $8.70 million. Permianville Royalty Trust had a return on equity of 15.04% and a net margin of 11.30%.

Permianville Royalty Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 30th will be paid a $0.0160 dividend. This is a drop from Permianville Royalty Trust’s previous monthly dividend of $0.0270. The ex-dividend date is Wednesday, September 30th. This represents a $0.19 dividend on an annualized basis and a yield of 10.6%. Permianville Royalty Trust’s dividend payout ratio is currently 111.76%.

Analyst Ratings Changes

Separately, Weiss Ratings raised Permianville Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 27th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold”.

About Permianville Royalty Trust

Permianville Royalty Trust (NYSE: PVL) is a publicly traded grantor trust that owns royalty and net profits interests in oil and natural gas properties. Rather than operating wells directly, the trust receives distributions generated from the production and sale of hydrocarbons from its underlying interests, after applicable operating and other expenses.

The trust’s assets are primarily associated with properties in the Permian Basin of West Texas and southeastern New Mexico. Its interests provide exposure to crude oil, natural gas, and natural gas liquids produced from wells developed and operated by third-party exploration and production companies.

Permianville Royalty Trust was established as Enduro Royalty Trust and adopted its current name in 2018.