Permianville Royalty Trust (NYSE:PVL) Stock to Pay Monthly Dividend of $0.01

Permianville Royalty Trust (NYSE:PVL) announced a monthly dividend on Monday, October 19th. Shareholders of record on Friday, October 30th will be paid a dividend of $0.0150 per share on Friday, November 13th. This represents a $0.18 annualized dividend and a yield of 10.0%. The ex-dividend date is Friday, October 30th. This is a 6.3% decrease from Permianville Royalty Trust’s previous monthly dividend of $0.0160.

Permianville Royalty Trust Stock Performance

NYSE PVL opened at $1.79 on Tuesday. Permianville Royalty Trust has a one year low of $1.58 and a one year high of $2.01. The stock has a 50-day moving average of $1.82 and a 200 day moving average of $1.82. The company has a market capitalization of $59.23 million, a price-to-earnings ratio of 10.56 and a beta of 0.17.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Permianville Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 27th. One analyst has rated the stock with a Hold rating. According to MarketBeat, the stock has a consensus rating of “Hold”.

About Permianville Royalty Trust

Permianville Royalty Trust (NYSE: PVL) is a grantor trust that owns a net profits interest in certain oil and natural gas properties. Rather than operating wells directly, the trust receives distributions based on the revenue generated by production from its underlying assets, after specified production and other expenses.

The trust’s interests are concentrated in the Permian Basin, primarily in western Texas and southeastern New Mexico. Its underlying properties include producing and potentially developable oil and natural gas assets, with production volumes and distributions influenced by commodity prices, operating costs, drilling activity and well performance.

Permianville Royalty Trust was formed in 2011 and was initially known as Enduro Royalty Trust.