Permianville Royalty Trust
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Energy : Oil, Gas & Consumable Fuels | Small Cap Blend
Company profile

Permianville Royalty Trust (the Trust) is a statutory trust formed by Enduro Resource Partners LLC (Enduro), as trustor, The Bank of New York Mellon Trust Company, N.A. (the Trustee), as trustee, and Wilmington Trust Company (the Delaware Trustee), as Delaware Trustee. The Trust is created to acquire and hold for the benefit of the Trust unitholders a net profits interest representing the right to receive approximately 80% of the 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. The properties in which the Trust holds the Net Profits Interest are referred to as the Underlying Properties. The Underlying Properties consist of producing and non-producing interests in oil and natural gas units, wells and lands in Texas, Louisiana and New Mexico.

Day's Change
0.1736 (4.85%)
B/A Size
Day's High
Day's Low

Today's volume of 100,149 shares is on pace to be in-line with PVL's 10-day average volume of 169,033 shares.


Coinbase stock extends its rally. Is the recent spike warranted?

3:11 pm ET August 4, 2022 (MarketWatch)

By Emily Bary

Shares were up more than 40% at one point Thursday but have pared back gains

Coinbase Global Inc. shares extended their bounce Thursday after the cryptocurrency marketplace racked up a number of partnership announcements.

Through a new partnership with BlackRock Inc.'s (BLK) Aladdin investment-management platform, certain institutional investors will be able to gain access to bitcoin directly.

"This connectivity with Aladdin will allow clients to manage their bitcoin exposures directly in their existing portfolio management and trading workflows for a whole portfolio view of risk across asset classes," BlackRock's Joseph Chalom, the company's global head of strategic ecosystem partnerships, said in a blog post on Coinbase's (COIN) site. He added that institutional investors "are increasingly interested in gaining exposure to digital asset markets."

Additionally, Meta Platforms Inc. (META) Chief Executive Mark Zuckerberg said on Facebook that his company was launching "new integrations with Coinbase and Dapper." The post contained a picture of his "soon-to-be NFT old Little League Baseball card."

Coinbase shares were up 10.6% in Thursday afternoon trading, though they traded up as much as 43.9% earlier in the session. The stock rose 20.2% in Wednesday's session and 7.2% in Tuesday trading.

See also: Robinhood to lay off 23% of its workforce, with CEO admitting 'this is on me'

Mizuho analyst Dan Dolev mused in an early Thursday note to clients about whether Coinbase's Wednesday surge was warranted.

"Yesterday's rally included a +20% spike in COIN shares, significantly outperforming bitcoin and peers," he wrote. "But was this merited? Depressed volumes suggest it was not."

His analysis indicated that Coinbase saw perhaps $1.8 billion of cryptocurrency trading volume on its platform Tuesday, "barely above July's 'crypto winter' levels, suggesting that the hype was premature."

He maintained a neutral rating and $42 price target on the stock, which was trading near $90 Thursday.

Coinbase shares have lost nearly two thirds of their value so far this year, while bitcoin has lost about half its value and as the S&P 500 has fallen about 13%.

-Emily Bary


(END) Dow Jones Newswires

August 04, 2022 15:11 ET (19:11 GMT)

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