Mesa Royalty Trust (NYSE:MTR) Sees Large Drop in Short Interest

Mesa Royalty Trust (NYSE:MTR) saw a significant drop in short interest in the month of February. As of February 27th, there was short interest totaling 6,613 shares, a drop of 41.7% from the February 12th total of 11,338 shares. Based on an average daily trading volume, of 18,949 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.4% of the company’s shares are short sold. Currently, 0.4% of the company’s shares are short sold. Based on an average daily trading volume, of 18,949 shares, the days-to-cover ratio is currently 0.3 days.

Mesa Royalty Trust Stock Down 2.5%

MTR traded down $0.13 during midday trading on Friday, reaching $5.16. 14,052 shares of the company’s stock were exchanged, compared to its average volume of 32,499. The business has a 50-day simple moving average of $4.79 and a two-hundred day simple moving average of $4.88. The firm has a market capitalization of $9.62 million, a price-to-earnings ratio of 22.44 and a beta of 0.48. Mesa Royalty Trust has a one year low of $4.03 and a one year high of $10.42.

Mesa Royalty Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Friday, January 30th will be given a dividend of $0.0015 per share. This represents a c) dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Friday, January 30th. Mesa Royalty Trust’s dividend payout ratio is presently 4.35%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Mesa Royalty Trust in a research note on Monday, December 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

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).