Enduro Royalty Trust (NYSE:NDRO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

According to Zacks, “Enduro Royalty Trust is formed by Enduro Sponsor to earn net profits interest from the sale of oil and natural gas production from properties located in the states of Texas, Louisiana and New Mexico. Enduro Royalty Trust is based in Austin, Texas. “

Enduro Royalty Trust (NYSE:NDRO) opened at 4.00 on Wednesday. The firm has a 50-day moving average price of $3.55 and a 200-day moving average price of $3.55. The stock has a market capitalization of $132.00 million, a PE ratio of 13.75 and a beta of 0.63. Enduro Royalty Trust has a 52 week low of $1.77 and a 52 week high of $4.06.

The firm also recently announced a monthly dividend, which will be paid on Wednesday, December 14th. Investors of record on Wednesday, November 30th will be given a dividend of $0.028 per share. This represents a $0.34 annualized dividend and a dividend yield of 8.40%. The ex-dividend date of this dividend is Monday, November 28th.

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in Enduro Royalty Trust by 8,771.2% in the second quarter. JPMorgan Chase & Co. now owns 46,219 shares of the company’s stock valued at $171,000 after buying an additional 45,698 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Enduro Royalty Trust by 71.6% in the third quarter. Wells Fargo & Company MN now owns 87,549 shares of the company’s stock valued at $311,000 after buying an additional 36,529 shares in the last quarter. Finally, Botty Investors LLC boosted its stake in Enduro Royalty Trust by 1.9% in the third quarter. Botty Investors LLC now owns 619,031 shares of the company’s stock valued at $2,191,000 after buying an additional 11,500 shares in the last quarter. Hedge funds and other institutional investors own 57.52% of the company’s stock.

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Enduro Royalty Trust Company Profile

Enduro Royalty Trust (the Trust) is a statutory trust formed by Enduro Resource Partners LLC (Enduro), as trustor, The Bank of New York Mellon Trust Company, N.A. (the Trustee), as trustee, and Wilmington Trust Company (the Delaware Trustee), as Delaware Trustee. The Trust was created to acquire and hold for the benefit of the Trust unitholders a net profits interest representing the right to receive approximately 80% of the net profits from the sale of oil and natural gas production from certain properties in the states of Texas, Louisiana and New Mexico held by Enduro as of the date of the conveyance of the net profits interest to the Trust (the Net Profits Interest).

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