MV Oil Trust (NYSE:MVO) Shares Down 2.1% – Here’s What Happened

MV Oil Trust (NYSE:MVO) shares were down 2.1% on Thursday . The company traded as low as $8.41 and last traded at $8.54. Approximately 44,918 shares traded hands during mid-day trading, a decline of 23% from the average daily volume of 58,108 shares. The stock had previously closed at $8.72.

Analysts Set New Price Targets

Separately, StockNews.com raised MV Oil Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st.

MV Oil Trust Trading Down 2.1 %

The firm has a 50 day moving average of $9.05 and a two-hundred day moving average of $9.17. The stock has a market capitalization of $98.21 million, a PE ratio of 5.37 and a beta of 0.76.

MV Oil Trust (NYSE:MVO) last released its quarterly earnings data on Thursday, November 7th. The oil and gas producer reported $0.41 EPS for the quarter. The business had revenue of $4.95 million during the quarter.

MV Oil Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Tuesday, October 15th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 15.46%. MV Oil Trust’s dividend payout ratio (DPR) is 83.02%.

Institutional Investors Weigh In On MV Oil Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP raised its stake in MV Oil Trust by 176.4% in the 2nd 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. Symphony Financial Ltd. Co. grew its holdings in shares of MV Oil Trust by 1.9% during the third quarter. Symphony Financial Ltd. Co. now owns 69,360 shares of the oil and gas producer’s stock worth $652,000 after buying an additional 1,302 shares in the last quarter. Finally, RIA Advisory Group LLC purchased a new stake in shares of MV Oil Trust during the third quarter worth about $119,000. Hedge funds and other institutional investors own 3.54% of the company’s stock.

MV Oil Trust Company Profile

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.