Sandler O’Neill Upgrades North European Oil Royalty to Buy

Brokerage firm Sandler O’Neill Upgrades its rating on North European Oil Royalty(NYSE:NRT). The shares have been rated Buy. Previously, the analysts had a Hold rating on the shares. The rating by Sandler O’Neill was issued on Sep 23, 2016.

North European Oil Royalty (NRT) shares turned negative on Tuesdays trading session with the shares closing down -0.16 points or -2.24% at a volume of 26,090. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $7.07. The peak price level was also seen at $7.07 while the days lowest was $6.9. Finally the shares closed at $6.99. The 52-week high of the shares is $11.79 while the 52-week low is $5.6. According to the latest information available, the market cap of the company is $64 M.

North European Oil Royalty(NRT) last announced its earnings results on Aug 12, 2016 for Fiscal Year 2016 and Q3.Earnings per share were $0.15.

North European Oil Royalty Trust (the Trust) is a grantor trust which on behalf of the owners of beneficial interest in the Trust holds overriding royalty rights covering gas and oil production in certain concessions or leases in the Federal Republic of Germany. The Trust’s rights are held under contracts with local German exploration and development subsidiaries of ExxonMobil Corp. (ExxonMobil) and the Royal Dutch/Shell Group of Companies (Royal Dutch/Shell Group). Under these contracts the Trust receives various percentage royalties on the proceeds of the sales of certain products from the areas involved. The royalties are received for sales of gas well gas oil well gas crude oil distillate and sulfur. Neither the Trust nor the Trustees on behalf of the Trust conduct any active business activities or operations. The function of the Trustees is to monitor verify collect hold invest and distribute the royalty payments made to the Trust.

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