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

Permianville Royalty Trust (NYSE:PVL) posted its quarterly earnings results on Monday. The company reported $0.08 earnings per share for the quarter, Zacks reports. Permianville Royalty Trust had a return on equity of 5.04% and a net margin of 4.44%.The company had revenue of $13.71 million for the quarter.

Permianville Royalty Trust Stock Up 1.5%

Shares of PVL traded up $0.03 during trading hours on Tuesday, reaching $1.88. The stock had a trading volume of 38,439 shares, compared to its average volume of 106,670. The company has a market cap of $61.97 million, a P/E ratio of 26.83 and a beta of 0.20. Permianville Royalty Trust has a 52 week low of $1.30 and a 52 week high of $2.04. The firm has a 50-day moving average of $1.77 and a 200 day moving average of $1.81.

Permianville Royalty Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 31st will be given a $0.01 dividend. The ex-dividend date is Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 6.4%. This is an increase from Permianville Royalty Trust’s previous monthly dividend of $0.01. Permianville Royalty Trust’s dividend payout ratio is currently 171.43%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kestra Private Wealth Services LLC bought a new stake in shares of Permianville Royalty Trust in the third quarter worth about $37,000. Susquehanna International Group LLP lifted its holdings in shares of 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 purchasing an additional 66,583 shares in the last quarter. Finally, Citadel Advisors LLC grew its position 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 valued at $51,000 after purchasing an additional 40,428 shares during the period. 6.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Permianville Royalty Trust in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

About Permianville Royalty Trust

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.