Scully Royalty (NYSE:SRL) Shares Pass Below 50-Day Moving Average – Here’s What Happened

Scully Royalty Ltd. (NYSE:SRL)’s share price crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $8.75 and traded as low as $7.45. Scully Royalty shares last traded at $7.6190, with a volume of 1,465 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SRL shares. Wall Street Zen raised Scully Royalty to a “hold” rating in a research note on Saturday, March 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Scully Royalty in a research note on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Scully Royalty Trading Up 0.1%

The company has a fifty day simple moving average of $8.71 and a two-hundred day simple moving average of $7.21.

Scully Royalty (NYSE:SRL) last released its quarterly earnings results on Wednesday, December 31st. The financial services provider reported ($0.05) earnings per share (EPS) for the quarter. The firm had revenue of $6.82 million during the quarter.

Hedge Funds Weigh In On Scully Royalty

An institutional investor recently bought a new position in Scully Royalty stock. KERR FINANCIAL PLANNING Corp purchased a new stake in Scully Royalty Ltd. (NYSE:SRL) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 14,964 shares of the financial services provider’s stock, valued at approximately $86,000. KERR FINANCIAL PLANNING Corp owned 0.10% of Scully Royalty as of its most recent SEC filing. Institutional investors and hedge funds own 41.96% of the company’s stock.

Scully Royalty Company Profile

Scully Royalty Ltd. is a mineral royalty company that acquires, owns and manages a diversified portfolio of oil and gas royalty and overriding royalty interests in key onshore producing regions of the United States. As a royalty owner, the company receives a percentage of production revenue from its assets without assuming the operational and capital expenditure burdens associated with exploration and development.

The company’s portfolio spans multiple established hydrocarbon basins, including conventional and unconventional plays.