Scully Royalty (NYSE:SRL) Share Price Passes Below 50 Day Moving Average – What’s Next?

Scully Royalty Ltd. (NYSE:SRL)’s share price passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $5.62 and traded as low as $5.45. Scully Royalty shares last traded at $5.7090, with a volume of 792 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Scully Royalty from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, June 16th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

Scully Royalty Trading Down 0.9%

The business has a 50-day moving average of $5.61 and a 200 day moving average of $6.55.

Institutional Investors Weigh In On Scully Royalty

An institutional investor recently bought a new stake in Scully Royalty stock. Barclays PLC acquired a new position in Scully Royalty Ltd. (NYSE:SRL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 29,100 shares of the financial services provider’s stock, valued at approximately $249,000. Barclays PLC owned about 0.20% of Scully Royalty at the end of the most recent quarter. Hedge funds and other institutional investors own 41.96% of the company’s stock.

Scully Royalty Company Profile

Scully Royalty Ltd. is a mineral royalty company that acquires, owns and manages a diversified portfolio of oil and gas royalty and overriding royalty interests in key onshore producing regions of the United States. As a royalty owner, the company receives a percentage of production revenue from its assets without assuming the operational and capital expenditure burdens associated with exploration and development.

The company’s portfolio spans multiple established hydrocarbon basins, including conventional and unconventional plays.