North European Oil Royalty Trust (NYSE:NRT) Stock Price Crosses Below 200 Day Moving Average – Here’s Why

Posted by Renee Jackson on Oct 25th, 2024

North European Oil Royalty Trust (NYSE:NRT – Get Free Report) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.21 and traded as low as $5.04. North European Oil Royalty Trust shares last traded at $5.10, with a volume of 63,851 shares trading hands.

North European Oil Royalty Trust Price Performance

The business has a 50-day moving average of $5.29 and a 200 day moving average of $6.19.

North European Oil Royalty Trust (NYSE:NRT – Get Free Report) last posted its quarterly earnings results on Friday, August 30th. The energy company reported $0.21 earnings per share (EPS) for the quarter. The business had revenue of $2.46 million during the quarter.

North European Oil Royalty Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Friday, August 16th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 15.88%. The ex-dividend date was Friday, August 16th. This is a positive change from North European Oil Royalty Trust’s previous quarterly dividend of $0.16. North European Oil Royalty Trust’s dividend payout ratio (DPR) is currently 182.61%.

Hedge Funds Weigh In On North European Oil Royalty Trust

An institutional investor recently raised its position in North European Oil Royalty Trust stock. Comerica Bank increased its holdings in shares of North European Oil Royalty Trust (NYSE:NRT – Free Report) by 141.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,304 shares of the energy company’s stock after acquiring an additional 2,518 shares during the quarter. Comerica Bank’s holdings in North European Oil Royalty Trust were worth $26,000 as of its most recent SEC filing. Institutional investors own 6.97% of the company’s stock.

North European Oil Royalty Trust Company Profile

(Get Free Report)

North European Oil Royalty Trust, a grantor trust, holds overriding royalty rights covering gas and oil production in various concessions or leases in the Federal Republic of Germany. The company also has rights under contracts with German exploration and development subsidiaries of ExxonMobil Corp. and the Royal Dutch/Shell Group of Companies.