Shares of Scully Royalty Ltd. (NYSE:SRL – Get Free Report) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $6.03 and traded as low as $5.33. Scully Royalty shares last traded at $5.4090, with a volume of 52,797 shares.
Analysts Set New Price Targets
Separately, Weiss Ratings lowered Scully Royalty from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, June 16th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.
Read Our Latest Research Report on Scully Royalty
Scully Royalty Stock Performance
Institutional Inflows and Outflows
An institutional investor recently raised its stake in Scully Royalty stock. Renaissance Technologies LLC lifted its holdings in shares of Scully Royalty Ltd. (NYSE:SRL – Free Report) by 41.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,114 shares of the financial services provider’s stock after acquiring an additional 19,800 shares during the period. Renaissance Technologies LLC owned approximately 0.46% of Scully Royalty worth $533,000 at the end of the most recent reporting period. 41.96% of the stock is currently owned by institutional investors and hedge funds.
About Scully Royalty
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.
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