Mesa Royalty Trust (NYSE:MTR) Sees Large Decline in Short Interest

Mesa Royalty Trust (NYSE:MTR) saw a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 6,700 shares, a drop of 22.1% from the December 15th total of 8,600 shares. Based on an average daily trading volume, of 9,900 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.4% of the shares of the company are sold short.

Mesa Royalty Trust Stock Performance

Shares of MTR opened at $6.54 on Wednesday. The firm has a market cap of $12.16 million, a P/E ratio of 13.92 and a beta of 0.66. Mesa Royalty Trust has a 52 week low of $5.60 and a 52 week high of $12.02. The firm’s 50-day simple moving average is $6.44 and its 200 day simple moving average is $6.72.

Mesa Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.0057 dividend. This is an increase from Mesa Royalty Trust’s previous monthly dividend of $0.00. The ex-dividend date is Tuesday, December 31st. This represents a $0.07 annualized dividend and a dividend yield of 1.04%. Mesa Royalty Trust’s dividend payout ratio is presently 55.32%.

Mesa Royalty Trust Company Profile

Mesa Royalty Trust owns overriding royalty interests in various oil and gas producing properties in the United States. It holds interests in properties located in the Hugoton field of Kansas; and the San Juan Basin field of Northwestern New Mexico and Southwestern Colorado. The company was founded in 1979 and is based in Houston, Texas.