MV Oil Trust (NYSE:MVO) Cut to “Hold” at StockNews.com

Posted by Paula Ricardo on Sep 26th, 2024

StockNews.com downgraded shares of MV Oil Trust (NYSE:MVO – Free Report) from a buy rating to a hold rating in a research note issued to investors on Monday morning.

MV Oil Trust Stock Up 0.5 %

Shares of MVO opened at $9.36 on Monday. MV Oil Trust has a 52-week low of $8.42 and a 52-week high of $13.95. The company has a 50-day simple moving average of $9.19 and a 200-day simple moving average of $9.52. The company has a market capitalization of $107.64 million, a PE ratio of 6.12 and a beta of 0.76.

MV Oil Trust (NYSE:MVO – Get Free Report) last issued its earnings results on Friday, August 9th. The oil and gas producer reported $0.33 earnings per share (EPS) for the quarter. The company had revenue of $4.02 million during the quarter.

MV Oil Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 15th were issued a $0.41 dividend. This is a positive change from MV Oil Trust’s previous quarterly dividend of $0.33. The ex-dividend date was Monday, July 15th. This represents a $1.64 annualized dividend and a yield of 17.52%. MV Oil Trust’s dividend payout ratio is 107.19%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Symphony Financial Ltd. Co. grew its stake in MV Oil Trust by 1.6% in the 1st quarter. Symphony Financial Ltd. Co. now owns 67,103 shares of the oil and gas producer’s stock valued at $717,000 after acquiring an additional 1,066 shares during the last quarter. Marshall Wace LLP grew its position in shares of MV Oil Trust by 176.4% in the second quarter. Marshall Wace LLP now owns 32,576 shares of the oil and gas producer’s stock valued at $307,000 after purchasing an additional 20,791 shares during the last quarter. Finally, RIA Advisory Group LLC purchased a new position in shares of MV Oil Trust during the 1st quarter worth approximately $128,000. Hedge funds and other institutional investors own 3.54% of the company’s stock.

About MV Oil Trust

(Get Free Report)

MV Oil Trust acquires and holds term net profits interests in the oil and natural gas properties of MV Partners, LLC. Its properties wells located in the Mid-Continent region in the states of Kansas and Colorado. MV Oil Trust was incorporated in 2006 and is based in Houston, Texas.