Mesa Royalty Trust (NYSE:MTR) Shares Pass Below 200 Day Moving Average – Here’s What Happened

Mesa Royalty Trust (NYSE:MTR)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.28 and traded as low as $2.86. Mesa Royalty Trust shares last traded at $2.90, with a volume of 4,613 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Mesa Royalty Trust from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Mesa Royalty Trust Price Performance

The stock has a market capitalization of $5.39 million, a P/E ratio of 14.50 and a beta of 0.42. The firm has a 50 day moving average of $3.36 and a 200-day moving average of $4.28.

Mesa Royalty Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, May 29th will be issued a dividend of $0.0403 per share. This represents a c) annualized dividend and a dividend yield of 16.7%. The ex-dividend date of this dividend is Friday, May 29th. Mesa Royalty Trust’s dividend payout ratio (DPR) is presently 145.00%.

Mesa Royalty Trust Company Profile

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).