Mesa Royalty Trust (NYSE:MTR) Stock Price Crosses Below 50 Day Moving Average – Here’s What Happened

Mesa Royalty Trust (NYSE:MTR)’s stock price passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $3.01 and traded as low as $2.60. Mesa Royalty Trust shares last traded at $2.6140, with a volume of 5,782 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings cut Mesa Royalty Trust from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Mesa Royalty Trust currently has a consensus rating of “Sell”.

Mesa Royalty Trust Stock Performance

The company has a market capitalization of $4.80 million, a price-to-earnings ratio of 16.13 and a beta of 0.44. The business’s 50-day simple moving average is $3.00 and its 200-day simple moving average is $4.04.

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

Mesa Royalty Trust Company Profile

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).