Mesa Royalty Trust (NYSE:MTR) Share Price Passes Below 50 Day Moving Average – Here’s Why

Shares of Mesa Royalty Trust (NYSE:MTR) passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $4.42 and traded as low as $3.83. Mesa Royalty Trust shares last traded at $3.8390, with a volume of 11,602 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Mesa Royalty Trust in a research report on Friday, March 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Mesa Royalty Trust currently has a consensus rating of “Sell”.

Mesa Royalty Trust Trading Up 0.2%

The firm has a 50-day moving average of $4.42 and a 200-day moving average of $4.63. The stock has a market capitalization of $7.14 million, a price-to-earnings ratio of 19.20 and a beta of 0.41.

Mesa Royalty Trust (NYSE:MTR) last released its earnings results on Monday, March 30th. The energy company reported $0.04 earnings per share (EPS) for the quarter. Mesa Royalty Trust had a return on equity of 11.24% and a net margin of 65.19%.The firm had revenue of $0.14 million for the quarter.

Mesa Royalty Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, May 29th will be issued a dividend of $0.0403 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 12.6%. Mesa Royalty Trust’s payout ratio is 145.00%.

About Mesa Royalty Trust

Mesa Royalty Trust (NYSE: MTR) is a statutory trust that holds overriding royalty interests in oil and natural gas properties primarily located in the Permian Basin of Texas and New Mexico. Established in 1981 by Mesa Production Oil & Gas, Inc, the trust’s portfolio comprises interests in thousands of producing wells across key producing areas, including the Midland, Delaware and Central Basin platforms. These interests provide the trust with net revenue rights to a portion of the hydrocarbons produced from the underlying formations.

The trust’s core business activity is the collection and distribution of royalty income derived from the sale of crude oil, natural gas and natural gas liquids (NGLs).