Scully Royalty (NYSE:SRL) Stock Passes Below 50-Day Moving Average – Here’s What Happened

Scully Royalty Ltd. (NYSE:SRL)’s stock price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $6.27 and traded as low as $6.1250. Scully Royalty shares last traded at $6.1250, with a volume of 0 shares traded.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SRL shares. Wall Street Zen raised Scully Royalty to a “hold” rating in a research report on Saturday, March 7th. 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, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Scully Royalty Stock Performance

The stock’s 50 day moving average is $6.27 and its two-hundred day moving average is $7.49.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SRL. Renaissance Technologies LLC increased its position in shares of Scully Royalty by 41.0% in 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. Barclays PLC purchased a new stake in shares of Scully Royalty during the 4th quarter worth $249,000. Finally, KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Scully Royalty during the 3rd quarter worth $86,000. Institutional investors and hedge funds own 41.96% of the company’s stock.

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.