Permianville Royalty Trust (NYSE:PVL) to Issue Monthly Dividend of $0.02

Permianville Royalty Trust (NYSE:PVL – Get Rating) announced a monthly dividend on Thursday, March 16th, Zacks reports. Shareholders of record on Friday, March 31st will be given a dividend of 0.019 per share on Friday, April 14th. This represents a $0.23 dividend on an annualized basis and a yield of 10.36%. The ex-dividend date is Thursday, March 30th.

Permianville Royalty Trust has raised its dividend payment by an average of 12.9% annually over the last three years.

Permianville Royalty Trust Trading Down 0.5 %

Shares of NYSE PVL opened at $2.20 on Friday. The firm’s 50-day moving average price is $2.80 and its 200-day moving average price is $3.23. Permianville Royalty Trust has a 1-year low of $2.02 and a 1-year high of $5.79.

Insider Buying and Selling

In other Permianville Royalty Trust news, major shareholder Permianville Holdings Llc sold 17,151 shares of the stock in a transaction that occurred on Wednesday, February 8th. The stock was sold at an average price of $3.01, for a total value of $51,624.51. Following the transaction, the insider now owns 7,543,774 shares in the company, valued at $22,706,759.74. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 331,911 shares of company stock valued at $1,007,482.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Morgan Stanley grew its holdings in shares of Permianville Royalty Trust by 51.6% during the fourth quarter. Morgan Stanley now owns 22,740 shares of the company’s stock valued at $76,000 after buying an additional 7,740 shares during the last quarter. Citadel Advisors LLC acquired a new position in shares of Permianville Royalty Trust during the third quarter valued at about $152,000. Royal Bank of Canada grew its holdings in shares of Permianville Royalty Trust by 65.4% during the third quarter. Royal Bank of Canada now owns 9,190 shares of the company’s stock valued at $31,000 after buying an additional 3,635 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Permianville Royalty Trust during the second quarter valued at about $61,000. Finally, Occudo Quantitative Strategies LP grew its holdings in shares of Permianville Royalty Trust by 15.4% during the second quarter. Occudo Quantitative Strategies LP now owns 41,080 shares of the company’s stock valued at $137,000 after buying an additional 5,483 shares during the last quarter.

About Permianville Royalty Trust

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Permianville Royalty Trust operates as a statutory trust. It engages in the acquisition and holding of net profits from the sale of oil and natural gas production from certain properties in the states of Texas, Louisiana and New Mexico held by Enduro Resource Partners LLC, for the benefit of the trust unit holders.