Scully Royalty (NYSE:SRL) Shares Cross Below 50-Day Moving Average – Here’s Why

Scully Royalty Ltd. (NYSE:SRL)’s stock price passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $6.73 and traded as low as $6.1250. Scully Royalty shares last traded at $6.1250, with a volume of 0 shares traded.

Wall Street Analysts Forecast Growth

SRL has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Scully Royalty in a research report on Friday, May 22nd. Wall Street Zen raised shares of Scully Royalty to a “hold” rating in a research report on Saturday, March 7th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Scully Royalty presently has an average rating of “Sell”.

Scully Royalty Stock Performance

The company’s 50-day moving average is $6.73 and its 200 day moving average is $7.45.

Institutional Trading of Scully Royalty

Several institutional investors have recently bought and sold shares of the company. KERR FINANCIAL PLANNING Corp purchased a new stake in Scully Royalty during the 3rd quarter valued at about $86,000. Renaissance Technologies LLC grew its position in Scully Royalty by 41.0% during the 1st quarter. Renaissance Technologies LLC now owns 68,114 shares of the financial services provider’s stock valued at $533,000 after purchasing an additional 19,800 shares during the last quarter. Finally, Barclays PLC purchased a new stake in Scully Royalty during the 4th quarter valued at about $249,000. 41.96% of the stock is owned by hedge funds and other institutional investors.

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.