Permianville Royalty Trust (NYSE:PVL) Sees Significant Decrease in Short Interest

Permianville Royalty Trust (NYSE:PVL) was the target of a large decline in short interest in December. As of December 15th, there was short interest totalling 77,500 shares, a decline of 16.8% from the November 30th total of 93,100 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average daily volume of 58,300 shares, the days-to-cover ratio is presently 1.3 days.

Permianville Royalty Trust Stock Performance

Shares of PVL traded up $0.00 during midday trading on Friday, hitting $1.36. 38,811 shares of the company traded hands, compared to its average volume of 88,576. Permianville Royalty Trust has a 52 week low of $1.03 and a 52 week high of $1.96. The firm has a 50 day moving average of $1.52 and a 200-day moving average of $1.51. The stock has a market cap of $44.85 million, a price-to-earnings ratio of 6.47 and a beta of 0.86.

Permianville Royalty Trust Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a dividend of $0.0105 per share. This represents a $0.13 annualized dividend and a yield of 9.27%. The ex-dividend date of this dividend was Friday, November 29th. Permianville Royalty Trust’s dividend payout ratio is presently 57.14%.

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.