North European Oil Royalty Trust (NYSE:NRT) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of North European Oil Royalty Trust (NYSE:NRT) from a hold rating to a buy rating in a research note released on Wednesday morning.

North European Oil Royalty Trust Trading Up 3.1 %

NRT stock opened at $4.04 on Wednesday. The company has a market capitalization of $37.13 million, a PE ratio of 8.78 and a beta of 0.76. North European Oil Royalty Trust has a 12-month low of $3.88 and a 12-month high of $8.62. The business’s fifty day moving average price is $4.22 and its 200 day moving average price is $5.21.

North European Oil Royalty Trust (NYSE:NRT) last released its quarterly earnings data on Tuesday, December 31st. The energy company reported $0.06 earnings per share (EPS) for the quarter.

North European Oil Royalty Trust Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date was Friday, November 15th. North European Oil Royalty Trust’s dividend payout ratio is currently 17.39%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in North European Oil Royalty Trust stock. Peapack Gladstone Financial Corp increased its stake in North European Oil Royalty Trust (NYSE:NRT) by 34.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 about 0.21% of North European Oil Royalty Trust worth $102,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 6.97% of the company’s stock.

About North European Oil Royalty Trust

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.