Mesa Royalty Trust (NYSE:MTR) Share Price Passes Above 50-Day Moving Average – Time to Sell?

Mesa Royalty Trust (NYSE:MTR)’s share price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $4.58 and traded as high as $4.89. Mesa Royalty Trust shares last traded at $4.8250, with a volume of 3,882 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Mesa Royalty Trust in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Mesa Royalty Trust Price Performance

The stock has a market cap of $8.97 million, a price-to-earnings ratio of 20.98 and a beta of 0.48. The stock’s 50-day moving average is $4.58 and its 200-day moving average is $4.92.

Mesa Royalty Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Investors of record on Friday, January 30th will be paid a $0.0015 dividend. This represents a c) annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, January 30th. Mesa Royalty Trust’s dividend payout ratio is presently 8.70%.

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).