MV Oil Trust (NYSE:MVO) Declares Dividend Increase – $0.28 Per Share

MV Oil Trust (NYSE:MVO) declared a quarterly dividend on Monday, April 7th, Wall Street Journal reports. Shareholders of record on Tuesday, April 15th will be given a dividend of 0.275 per share by the oil and gas producer on Friday, April 25th. This represents a $1.10 dividend on an annualized basis and a yield of 19.68%. The ex-dividend date is Tuesday, April 15th. This is a 14.6% increase from MV Oil Trust’s previous quarterly dividend of $0.24.

MV Oil Trust has raised its dividend payment by an average of 0.6% per year over the last three years.

MV Oil Trust Trading Up 6.9 %

Shares of NYSE MVO traded up $0.36 during midday trading on Monday, reaching $5.59. The company’s stock had a trading volume of 215,430 shares, compared to its average volume of 74,287. The stock has a 50 day simple moving average of $5.45 and a 200-day simple moving average of $7.60. The stock has a market capitalization of $64.29 million, a price-to-earnings ratio of 3.52 and a beta of 0.22. MV Oil Trust has a fifty-two week low of $4.63 and a fifty-two week high of $11.39.

MV Oil Trust (NYSE:MVO) last issued its quarterly earnings results on Thursday, March 20th. The oil and gas producer reported $1.02 earnings per share (EPS) for the quarter. The business had revenue of $12.68 million during the quarter.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded MV Oil Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th.

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.