Mesa Royalty Trust (NYSE:MTR) Posts Quarterly Earnings Results

Mesa Royalty Trust (NYSE:MTR) released its quarterly earnings results on Friday. The energy company reported $0.07 earnings per share for the quarter, Zacks reports. Mesa Royalty Trust had a net margin of 65.19% and a return on equity of 11.24%.

Mesa Royalty Trust Stock Performance

MTR traded up $0.07 on Friday, reaching $2.90. The company had a trading volume of 9,080 shares, compared to its average volume of 14,030. The business has a 50 day simple moving average of $3.15 and a 200 day simple moving average of $4.17. The company has a market cap of $5.38 million, a price-to-earnings ratio of 14.47 and a beta of 0.44. Mesa Royalty Trust has a 52-week low of $2.82 and a 52-week high of $5.83.

Mesa Royalty Trust Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, July 31st. Investors of record on Friday, May 29th were paid a $0.0403 dividend. This represents a c) dividend on an annualized basis and a yield of 16.7%. The ex-dividend date of this dividend was Friday, May 29th.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Mesa Royalty Trust from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, August 7th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

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).