Enduro Royalty Trust (NDRO) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research downgraded shares of Enduro Royalty Trust (NYSE:NDRO) from a hold rating to a sell rating in a research report released on Tuesday.

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. “

Shares of Enduro Royalty Trust (NYSE NDRO) opened at $3.30 on Tuesday. Enduro Royalty Trust has a twelve month low of $2.75 and a twelve month high of $4.45. The stock has a market capitalization of $107.25, a PE ratio of 10.65 and a beta of 0.45.

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st will be issued a $0.018 dividend. This represents a $0.22 annualized dividend and a yield of 6.55%. This is a boost from Enduro Royalty Trust’s previous monthly dividend of $0.02. The ex-dividend date of this dividend is Tuesday, January 30th. Enduro Royalty Trust’s payout ratio is presently 64.52%.

A number of hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its holdings in Enduro Royalty Trust by 164.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 29,101 shares of the oil and gas producer’s stock worth $127,000 after buying an additional 18,100 shares during the last quarter. Virtu KCG Holdings LLC acquired a new stake in Enduro Royalty Trust in the 2nd quarter worth about $161,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of Enduro Royalty Trust by 42.1% during the 3rd quarter. Wells Fargo & Company MN now owns 364,703 shares of the oil and gas producer’s stock worth $1,586,000 after purchasing an additional 108,063 shares during the last quarter. Institutional investors own 57.43% of the company’s stock.

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Enduro Royalty Trust Company Profile

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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