Permianville Royalty Trust (NYSE:PVL) Sees Large Decline in Short Interest

Permianville Royalty Trust (NYSE:PVL) was the target of a significant decline in short interest in November. As of November 15th, there was short interest totalling 89,100 shares, a decline of 26.2% from the October 31st total of 120,800 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily volume of 64,100 shares, the short-interest ratio is currently 1.4 days.

Permianville Royalty Trust Stock Performance

Shares of Permianville Royalty Trust stock traded up $0.02 during trading on Friday, reaching $1.59. 44,623 shares of the company’s stock were exchanged, compared to its average volume of 42,546. Permianville Royalty Trust has a 1-year low of $1.03 and a 1-year high of $2.04. The company has a market cap of $52.47 million, a P/E ratio of 6.63 and a beta of 0.83. The firm’s 50-day moving average price is $1.58 and its 200 day moving average price is $1.50.

Permianville Royalty Trust Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.0105 per share. This represents a $0.13 annualized dividend and a yield of 7.92%. The ex-dividend date is Friday, November 29th. Permianville Royalty Trust’s payout ratio is 75.00%.

About Permianville Royalty Trust

Permianville Royalty Trust operates as a statutory trust. It is involved in the acquisition and holding of net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from properties located in the states of Texas, Louisiana, and New Mexico.