Zacks Investment Research downgraded shares of Enduro Royalty Trust (NYSE:NDRO) from a hold rating to a sell rating in a research note released on Wednesday.
According to Zacks, “Enduro Royalty Trust is formed by Enduro Sponsor to earn net profits interest from the sale of oil and natural gas production from properties located in the states of Texas, Louisiana and New Mexico. Enduro Royalty Trust is based in Austin, Texas. “
Separately, Stifel Nicolaus dropped their price target on Enduro Royalty Trust from $4.00 to $3.75 and set a buy rating for the company in a research note on Thursday, July 13th.
Shares of Enduro Royalty Trust (NDRO) opened at 3.50 on Wednesday. The company has a market capitalization of $115.50 million, a price-to-earnings ratio of 14.52 and a beta of 0.35. Enduro Royalty Trust has a one year low of $3.05 and a one year high of $4.55. The company’s 50 day moving average is $3.40 and its 200 day moving average is $3.45.
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The firm also recently declared a monthly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, July 31st will be paid a $0.0112 dividend. This represents a $0.13 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date is Thursday, July 27th. Enduro Royalty Trust’s payout ratio is 52.00%.
A hedge fund recently raised its stake in Enduro Royalty Trust stock. Lucas Capital Management raised its position in Enduro Royalty Trust (NYSE:NDRO) by 2.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 302,875 shares of the oil and gas producer’s stock after buying an additional 7,300 shares during the period. Lucas Capital Management owned 0.92% of Enduro Royalty Trust worth $1,015,000 at the end of the most recent reporting period. 57.62% of the stock is currently owned by hedge funds and other institutional investors.
About Enduro Royalty Trust
Enduro Royalty Trust (the Trust) is a statutory trust formed by Enduro Resource Partners LLC (Enduro), as trustor, The Bank of New York Mellon Trust Company, N.A. (the Trustee), as trustee, and Wilmington Trust Company (the Delaware Trustee), as Delaware Trustee. The Trust was created to acquire and hold for the benefit of the Trust unitholders a net profits interest representing the right to receive approximately 80% of the net profits from the sale of oil and natural gas production from certain properties in the states of Texas, Louisiana and New Mexico held by Enduro as of the date of the conveyance of the net profits interest to the Trust (the Net Profits Interest).
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