Enduro Royalty Trust (NDRO) Upgraded by Zacks Investment Research to “Hold”
Enduro Royalty Trust (NYSE:NDRO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors 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. “
Shares of Enduro Royalty Trust (NYSE:NDRO) opened at 3.60 on Wednesday. The firm has a 50-day moving average of $3.58 and a 200 day moving average of $3.56. The company has a market capitalization of $118.80 million, a P/E ratio of 12.37 and a beta of 0.63. Enduro Royalty Trust has a 1-year low of $1.77 and a 1-year high of $4.06.
The firm also recently declared a monthly dividend, which will be paid on Wednesday, December 14th. Shareholders of record on Wednesday, November 30th will be given a $0.028 dividend. The ex-dividend date is Monday, November 28th. This represents a $0.34 annualized dividend and a yield of 9.33%.
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Several hedge funds have recently made changes to their positions in NDRO. JPMorgan Chase & Co. boosted its stake in shares of Enduro Royalty Trust by 8,771.2% in the second quarter. JPMorgan Chase & Co. now owns 46,219 shares of the company’s stock worth $171,000 after buying an additional 45,698 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Enduro Royalty Trust by 71.6% in the third quarter. Wells Fargo & Company MN now owns 87,549 shares of the company’s stock worth $311,000 after buying an additional 36,529 shares during the period. Finally, Botty Investors LLC boosted its stake in shares of Enduro Royalty Trust by 1.9% in the third quarter. Botty Investors LLC now owns 619,031 shares of the company’s stock worth $2,191,000 after buying an additional 11,500 shares during the period. 57.94% of the stock is owned by hedge funds and other institutional investors.
About Enduro Royalty Trust
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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