Permianville Royalty Trust (NYSE:PVL) was the target of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 39,900 shares, an increase of 307.1% from the July 31st total of 9,800 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average daily volume of 56,800 shares, the days-to-cover ratio is presently 0.7 days.

Shares of Permianville Royalty Trust stock traded up $0.04 during trading hours on Wednesday, reaching $2.48. The company’s stock had a trading volume of 23,700 shares, compared to its average volume of 74,951. The company has a market capitalization of $81.84 million, a P/E ratio of 1.65 and a beta of 1.49. The stock’s fifty day simple moving average is $2.49 and its two-hundred day simple moving average is $2.86. Permianville Royalty Trust has a one year low of $1.70 and a one year high of $3.71.

The firm also recently announced a monthly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a dividend of $0.021 per share. This represents a $0.25 annualized dividend and a dividend yield of 10.16%. The ex-dividend date is Thursday, August 29th.

Separately, Zacks Investment Research upgraded shares of Permianville Royalty Trust from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a research note on Friday, July 19th.

Permianville Royalty Trust Company Profile

Permianville Royalty Trust operates a statutory trust. It owns a 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. The company was formerly known as Enduro Royalty Trust and changed its name to Permianville Royalty Trust in September 2018.

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