Mesa Royalty Trust (NYSE:MTR) Releases Quarterly Earnings Results

Mesa Royalty Trust (NYSE:MTR) issued its quarterly earnings data on Friday. The energy company reported $0.07 earnings per share for the quarter, Zacks reports. Mesa Royalty Trust had a return on equity of 11.24% and a net margin of 65.19%.The business had revenue of $0.16 million during the quarter.

Mesa Royalty Trust Stock Up 2.3%

Shares of MTR stock opened at $2.90 on Friday. The firm has a 50 day moving average of $3.13 and a two-hundred day moving average of $4.16. The stock has a market capitalization of $5.38 million, a PE ratio of 18.09 and a beta of 0.44. Mesa Royalty Trust has a 52 week low of $2.82 and a 52 week high of $5.83.

Mesa Royalty Trust Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, May 29th were given a $0.0403 dividend. This represents a c) annualized dividend and a yield of 16.7%. The ex-dividend date of this dividend was Friday, May 29th.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Mesa Royalty Trust from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

About Mesa Royalty Trust

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).