Mesa Royalty Trust (NYSE:MTR – Get Free Report) was the recipient of a large increase in short interest in the month of March. As of March 31st, there was short interest totaling 22,163 shares, an increase of 112.3% from the March 15th total of 10,440 shares. Based on an average trading volume of 19,044 shares, the days-to-cover ratio is currently 1.2 days. Approximately 1.2% of the company’s shares are sold short.
Analysts Set New Price Targets
Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Mesa Royalty Trust in a research report on Friday, March 27th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.
Check Out Our Latest Stock Analysis on Mesa Royalty Trust
Mesa Royalty Trust Stock Up 3.2%
Mesa Royalty Trust (NYSE:MTR – Get Free Report) last released its quarterly earnings results on Monday, March 30th. The energy company reported $0.04 EPS for the quarter. The business had revenue of $0.14 million during the quarter. Mesa Royalty Trust had a net margin of 72.09% and a return on equity of 13.78%.
Mesa Royalty Trust Announces Dividend
The company also recently declared a monthly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.0015 per share. This represents a c) dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Tuesday, March 31st. Mesa Royalty Trust’s dividend payout ratio is currently 25.00%.
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).
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