Mesa Royalty Trust (NYSE:MTR – Get Free Report) shares 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 trading hands.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings lowered shares of Mesa Royalty Trust from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.
Get Our Latest Stock Report on Mesa Royalty Trust
Mesa Royalty Trust Price Performance
Mesa Royalty Trust Announces Dividend
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 $0.0403 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 16.7%. The ex-dividend date is Friday, May 29th. Mesa Royalty Trust’s dividend payout ratio is presently 145.00%.
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).
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