Natural Resource Partners (NYSE:NRP) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Natural Resource Partners LP (NYSE:NRP)’s share price passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $107.34 and traded as high as $115.00. Natural Resource Partners shares last traded at $113.85, with a volume of 30,365 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Natural Resource Partners from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, September 28th. One analyst has rated the stock with a Hold rating. According to MarketBeat, the stock currently has an average rating of “Hold”.

Natural Resource Partners Stock Performance

The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.02. The firm has a 50-day simple moving average of $109.56 and a two-hundred day simple moving average of $107.29. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 14.66 and a beta of 0.24.

Natural Resource Partners (NYSE:NRP) last announced its quarterly earnings results on Wednesday, August 5th. The energy company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $1.55. The business had revenue of $52.97 million during the quarter, compared to analyst estimates of $37.70 million. Natural Resource Partners had a return on equity of 16.65% and a net margin of 57.13%.

Natural Resource Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 18th were paid a $0.75 dividend. The ex-dividend date was Tuesday, August 18th. This represents a $3.00 dividend on an annualized basis and a yield of 2.6%. Natural Resource Partners’s payout ratio is 38.27%.

Insider Buying and Selling

In other news, EVP Gregory Wooten sold 2,200 shares of the stock in a transaction on Friday, August 28th. The shares were sold at an average price of $110.89, for a total transaction of $243,958.00. Following the transaction, the executive vice president owned 32,634 shares in the company, valued at $3,618,784.26. This represents a 6.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 35.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE raised its holdings in Natural Resource Partners by 48.2% during the first quarter. Bank of America Corp DE now owns 183,026 shares of the energy company’s stock valued at $22,146,000 after buying an additional 59,523 shares in the last quarter. Waverly Advisors LLC bought a new stake in shares of Natural Resource Partners during the 1st quarter worth about $3,146,000. Mizuho Markets Americas LLC bought a new stake in shares of Natural Resource Partners during the 1st quarter worth about $3,073,000. Bastion Asset Management Inc. bought a new stake in shares of Natural Resource Partners during the 1st quarter worth about $2,363,000. Finally, Morningstar Investment Management LLC acquired a new position in shares of Natural Resource Partners during the 1st quarter valued at about $391,000. Institutional investors own 31.77% of the company’s stock.

Natural Resource Partners Company Profile

Natural Resource Partners L.P. is a Houston-based master limited partnership that owns and manages a diversified portfolio of natural resource properties. The company generally does not operate mines or other extraction facilities; instead, it leases its mineral interests to operating companies and receives royalty payments and other mineral-related revenues.

NRP’s mineral rights include coal reserves and properties associated with oil and natural gas, aggregates, and other industrial minerals.