MV Oil Trust (NYSE:MVO) Short Interest Update
by Renee Jackson · The Cerbat GemMV Oil Trust (NYSE:MVO – Get Free Report) was the target of a significant decrease in short interest in the month of July. As of July 15th, there was short interest totaling 478,454 shares, a decrease of 51.3% from the June 30th total of 982,799 shares. Based on an average daily trading volume, of 761,788 shares, the short-interest ratio is presently 0.6 days. Currently, 4.2% of the shares of the company are sold short.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings restated a “sell (d)” rating on shares of MV Oil Trust in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.
Check Out Our Latest Research Report on MV Oil Trust
MV Oil Trust Stock Performance
NYSE:MVO remained flat at $0.60 during midday trading on Tuesday. The firm has a market capitalization of $6.85 million, a price-to-earnings ratio of 0.73 and a beta of -0.21. The business’s 50 day moving average price is $1.36 and its 200-day moving average price is $1.83. MV Oil Trust has a 1-year low of $0.58 and a 1-year high of $6.19.
MV Oil Trust (NYSE:MVO – Get Free Report) last announced its quarterly earnings data on Wednesday, May 13th. The oil and gas producer reported $0.14 EPS for the quarter. The firm had revenue of $1.84 million for the quarter.
MV Oil Trust Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Wednesday, July 15th were issued a dividend of $0.5938 per share. This is an increase from MV Oil Trust’s previous quarterly dividend of $0.17. This represents a $2.38 annualized dividend and a yield of 398.9%. The ex-dividend date of this dividend was Wednesday, July 15th. MV Oil Trust’s dividend payout ratio is currently 289.02%.
Institutional Investors Weigh In On MV Oil Trust
Institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP purchased a new position in shares of MV Oil Trust during the 2nd quarter worth approximately $88,000. HRT Financial LP acquired a new position in MV Oil Trust during the fourth quarter worth $28,000. XTX Topco Ltd acquired a new position in MV Oil Trust during the fourth quarter worth $45,000. Finally, Bank of America Corp DE raised its position in MV Oil Trust by 1,614.1% in the first quarter. Bank of America Corp DE now owns 55,708 shares of the oil and gas producer’s stock worth $126,000 after acquiring an additional 52,458 shares in the last quarter. Hedge funds and other institutional investors own 3.54% of the company’s stock.
About MV Oil Trust
MV Oil Trust is an exchange-listed royalty trust that holds overriding royalty and net profits interests in oil and gas properties across the United States. As a non-operating entity, the trust does not engage in exploration or development; instead, it collects a share of production revenues after operating expenses are deducted.
The trust’s interests are primarily concentrated in onshore hydrocarbon fields in West Texas, providing unitholders with exposure to established production streams.