Mesa Royalty Trust (NYSE:MTR) Share Price Passes Above 50-Day Moving Average – Here’s Why

Shares of Mesa Royalty Trust (NYSE:MTR) 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.

Wall Street Analysts Forecast Growth

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

Mesa Royalty Trust Stock Performance

The business has a fifty day moving average price of $4.58 and a 200 day moving average price of $4.92. The company has a market capitalization of $8.97 million, a PE ratio of 20.98 and a beta of 0.48.

Mesa Royalty Trust Announces Dividend

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