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

Mesa Royalty Trust (NYSE:MTR) was the target of a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 1,793 shares, an increase of 311.2% from the August 15th total of 436 shares. Based on an average trading volume of 13,992 shares, the short-interest ratio is currently 0.1 days. Currently, 0.1% of the shares of the company are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Mesa Royalty Trust from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, August 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Mesa Royalty Trust Stock Performance

Shares of MTR opened at $2.42 on Friday. The firm has a market cap of $4.51 million, a P/E ratio of 15.16 and a beta of 0.41. Mesa Royalty Trust has a 52 week low of $2.17 and a 52 week high of $5.83. The firm’s 50-day simple moving average is $2.80 and its 200 day simple moving average is $3.83.

Mesa Royalty Trust (NYSE:MTR) last issued its quarterly earnings data on Friday, August 14th. The energy company reported $0.07 earnings per share (EPS) for the quarter. Mesa Royalty Trust had a net margin of 60.59% and a return on equity of 9.17%. The firm had revenue of $0.16 million during the quarter.

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).