North European Oil Royalty Trust (NYSE:NRT) Sees Large Drop in Short Interest

North European Oil Royalty Trust (NYSE:NRT) was the target of a significant decline in short interest in the month of May. As of May 31st, there was short interest totalling 44,300 shares, a decline of 40.8% from the April 30th total of 74,800 shares. Approximately 0.5% of the company’s shares are sold short. Based on an average daily volume of 21,600 shares, the short-interest ratio is presently 2.1 days.

Shares of North European Oil Royalty Trust stock traded up $0.01 during trading on Monday, reaching $6.67. 4,829 shares of the company were exchanged, compared to its average volume of 17,194. North European Oil Royalty Trust has a twelve month low of $5.12 and a twelve month high of $8.48. The business’s 50-day simple moving average is $7.04. The stock has a market cap of $61.21 million, a price-to-earnings ratio of 8.54 and a beta of 0.46.

North European Oil Royalty Trust (NYSE:NRT) last announced its quarterly earnings data on Wednesday, May 15th. The energy company reported $0.22 EPS for the quarter. North European Oil Royalty Trust had a return on equity of 7,737.05% and a net margin of 90.15%. The business had revenue of $2.24 million during the quarter.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Friday, May 17th were paid a dividend of $0.22 per share. The ex-dividend date was Thursday, May 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 13.19%.

Separately, TheStreet raised North European Oil Royalty Trust from a “c” rating to a “b-” rating in a research note on Tuesday, May 7th.

Several institutional investors have recently made changes to their positions in NRT. Emancipation Management LLC grew its stake in shares of North European Oil Royalty Trust by 27.4% during the fourth quarter. Emancipation Management LLC now owns 445,849 shares of the energy company’s stock worth $2,586,000 after purchasing an additional 95,862 shares during the period. Halsey Associates Inc. CT acquired a new stake in shares of North European Oil Royalty Trust during the fourth quarter worth $532,000. Finally, Lucas Capital Management acquired a new stake in shares of North European Oil Royalty Trust during the first quarter worth $206,000. 14.45% of the stock is owned by institutional investors and hedge funds.

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About North European Oil Royalty Trust

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

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