North European Oil Royality Trust (NYSE:NRT) Sees Large Increase in Short Interest

North European Oil Royality Trust (NYSE:NRT) was the target of a large increase in short interest in the month of July. As of July 15th, there was short interest totaling 86,678 shares, an increase of 68.1% from the June 30th total of 51,559 shares. Currently, 1.0% of the company’s stock are sold short. Based on an average daily trading volume, of 51,858 shares, the days-to-cover ratio is currently 1.7 days.

Institutional Trading of North European Oil Royality Trust

Hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC acquired a new stake in North European Oil Royality Trust in the first quarter valued at $60,000. Peapack Gladstone Financial Corp grew its holdings in North European Oil Royality Trust by 57.0% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 44,600 shares of the energy company’s stock worth $223,000 after acquiring an additional 16,200 shares in the last quarter. Bank of America Corp DE grew its holdings in North European Oil Royality Trust by 210.5% during the 2nd quarter. Bank of America Corp DE now owns 29,500 shares of the energy company’s stock worth $148,000 after acquiring an additional 20,000 shares in the last quarter. Susquehanna International Group LLP bought a new stake in shares of North European Oil Royality Trust in the 3rd quarter worth about $134,000. Finally, LPL Financial LLC raised its stake in shares of North European Oil Royality Trust by 11.2% in the 4th quarter. LPL Financial LLC now owns 30,503 shares of the energy company’s stock valued at $201,000 after purchasing an additional 3,060 shares in the last quarter. Institutional investors and hedge funds own 6.97% of the company’s stock.

North European Oil Royality Trust Stock Performance

Shares of NYSE NRT opened at $9.49 on Friday. North European Oil Royality Trust has a 1 year low of $4.76 and a 1 year high of $10.49. The firm has a market cap of $87.20 million, a price-to-earnings ratio of 9.40 and a beta of -0.04. The stock’s 50-day simple moving average is $7.77 and its 200-day simple moving average is $8.36.

North European Oil Royality Trust (NYSE:NRT) last issued its quarterly earnings results on Friday, June 5th. The energy company reported $0.22 EPS for the quarter. North European Oil Royality Trust had a return on equity of 498.36% and a net margin of 91.27%.The firm had revenue of $2.38 million during the quarter.

North European Oil Royality Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 11.0%. The ex-dividend date of this dividend is Monday, August 17th. This is a positive change from North European Oil Royality Trust’s previous quarterly dividend of $0.22. North European Oil Royality Trust’s dividend payout ratio is currently 87.13%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Weiss Ratings upgraded North European Oil Royality Trust from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, June 11th. Wall Street Zen downgraded shares of North European Oil Royality Trust from a “strong-buy” rating to a “hold” rating in a research note on Saturday, June 13th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, North European Oil Royality Trust currently has an average rating of “Hold”.

About North European Oil Royality Trust

North European Oil Royalty Trust (NYSE: NRT) is a statutory trust that holds an overriding royalty interest in a diversified portfolio of oil and natural gas properties located in the United Kingdom sector of the North Sea. The trust’s sole business is to receive royalty revenues from production activities on its underlying fields and distribute those revenues directly to unitholders. It does not engage in exploration, drilling or field operations.

Under the terms of its governing agreement, the trust is entitled to a fixed percentage of net production revenues, after the deduction of operating and administrative expenses, from a series of established oil and gas fields in the North Sea region.