Short Interest in North European Oil Royalty Trust (NYSE:NRT) Declines By 29.8%

North European Oil Royalty Trust (NYSE:NRT) was the target of a significant decline in short interest during the month of February. As of February 28th, there was short interest totalling 58,300 shares, a decline of 29.8% from the February 13th total of 83,100 shares. Currently, 0.7% of the shares of the company are sold short. Based on an average daily trading volume, of 50,600 shares, the days-to-cover ratio is currently 1.2 days.

Hedge Funds Weigh In On North European Oil Royalty Trust

An institutional investor recently raised its position in North European Oil Royalty Trust stock. Peapack Gladstone Financial Corp raised its holdings in North European Oil Royalty Trust (NYSE:NRT) by 34.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,500 shares of the energy company’s stock after buying an additional 5,000 shares during the quarter. Peapack Gladstone Financial Corp owned 0.21% of North European Oil Royalty Trust worth $102,000 as of its most recent SEC filing. Institutional investors own 6.97% of the company’s stock.

North European Oil Royalty Trust Price Performance

NYSE:NRT remained flat at $4.62 during trading hours on Tuesday. 7,838 shares of the company traded hands, compared to its average volume of 53,401. The company has a market capitalization of $42.46 million, a PE ratio of 8.88 and a beta of 0.60. North European Oil Royalty Trust has a 1 year low of $3.88 and a 1 year high of $8.62. The stock’s fifty day moving average price is $4.67 and its 200-day moving average price is $4.66.

North European Oil Royalty Trust (NYSE:NRT) last released its earnings results on Friday, February 28th. The energy company reported $0.04 EPS for the quarter. The firm had revenue of $0.51 million during the quarter. North European Oil Royalty Trust had a net margin of 87.43% and a return on equity of 537.09%.

North European Oil Royalty Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Friday, February 14th were paid a dividend of $0.04 per share. This is a boost from North European Oil Royalty Trust’s previous quarterly dividend of $0.02. This represents a $0.16 annualized dividend and a yield of 3.46%. The ex-dividend date was Friday, February 14th. North European Oil Royalty Trust’s dividend payout ratio is presently 31.37%.

Analyst Ratings Changes

Separately, StockNews.com cut shares of North European Oil Royalty Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th.

North European Oil Royalty Trust Company Profile

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.