Mesa Royalty Trust (NYSE:MTR) Stock Passes Below 200-Day Moving Average – Here’s What Happened

Mesa Royalty Trust (NYSE:MTR)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.22 and traded as low as $2.84. Mesa Royalty Trust shares last traded at $2.8260, with a volume of 2,648 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Mesa Royalty Trust from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, July 23rd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Mesa Royalty Trust Trading Down 0.2%

The firm has a market cap of $5.31 million, a PE ratio of 14.27 and a beta of 0.44. The firm has a fifty day simple moving average of $3.23 and a two-hundred day simple moving average of $4.21.

Mesa Royalty Trust Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Friday, July 31st. Investors of record on Friday, May 29th were paid a $0.0403 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a c) dividend on an annualized basis and a yield of 16.9%. Mesa Royalty Trust’s dividend payout ratio (DPR) is presently 145.00%.

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).