MV Oil Trust (NYSE:MVO) Research Coverage Started at StockNews.com

Posted by Martin Roberts on Mar 19th, 2023

StockNews.com began coverage on shares of MV Oil Trust (NYSE:MVO – Get Rating) in a research note issued to investors on Thursday. The firm issued a buy rating on the oil and gas producer’s stock.

MV Oil Trust Stock Down 5.4 %

Shares of MV Oil Trust stock opened at $9.11 on Thursday. MV Oil Trust has a 52 week low of $8.38 and a 52 week high of $16.41. The business’s fifty day simple moving average is $13.60 and its 200-day simple moving average is $13.49. The firm has a market cap of $104.77 million, a PE ratio of 4.77 and a beta of 0.96.

MV Oil Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 25th. Stockholders of record on Tuesday, January 17th were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 18.00%. The ex-dividend date of this dividend was Friday, January 13th. MV Oil Trust’s dividend payout ratio (DPR) is presently 85.86%.

Hedge Funds Weigh In On MV Oil Trust

Several large investors have recently modified their holdings of MVO. Morgan Stanley lifted its stake in shares of MV Oil Trust by 105.4% in the 4th quarter. Morgan Stanley now owns 48,496 shares of the oil and gas producer’s stock valued at $792,000 after purchasing an additional 24,891 shares during the last quarter. Redhawk Wealth Advisors Inc. acquired a new position in shares of MV Oil Trust in the 4th quarter valued at $376,000. RIA Advisory Group LLC acquired a new position in MV Oil Trust during the 4th quarter worth about $196,000. BNP Paribas Arbitrage SA acquired a new position in MV Oil Trust during the 1st quarter worth about $137,000. Finally, Private Advisor Group LLC acquired a new position in MV Oil Trust during the 1st quarter worth about $128,000. Institutional investors and hedge funds own 4.67% of the company’s stock.

About MV Oil Trust

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MV Oil Trust is a close-ended investment trust. It engages in acquiring and holding a term net profits interest for the benefit of the trust unitholders. The company was founded on August 3, 2006 and is headquartered in Houston, TX.