Honeywell International Inc. Stock Falls Friday, Underperforms Market

North European Oil Royalty Trust

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Energy : Oil, Gas & Consumable Fuels | Small Cap Growth

Company profile

North European Oil Royalty Trust (the Trust) is a grantor trust which, on behalf of the owners of units of beneficial interest in the Trust (the unit owners), holds overriding royalty rights covering gas and oil production in certain concessions or leases in the Federal Republic of Germany. The 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. Its royalties are received for sales of gas well gas, oil well gas, crude oil, condensate and sulfur. The Trust conducts no active business operations and is restricted to collection of income from royalty rights and distribution to unit owners of the net income after payment of administrative and related expenses.

Honeywell International Inc. Stock Falls Friday, Underperforms Market

5:00 pm ET February 24, 2023 (MarketWatch) Print

This article was automatically generated by MarketWatch using technology from Automated Insights.

Shares of Honeywell International Inc. (HON) slipped 1.53% to $192.04 Friday, on what proved to be an all-around rough trading session for the stock market, with the S&P 500 Index falling 1.05% to 3,970.04 and Dow Jones Industrial Average falling 1.02% to 32,816.92. This was the stock's fourth consecutive day of losses. Honeywell International Inc. closed $28.92 below its 52-week high ($220.96), which the company reached on November 25th.

The stock underperformed when compared to some of its competitors Friday, as General Electric Co. (GE) rose 0.74% to $83.55, 3M Co. (MMM) fell 1.02% to $107.80, and Johnson Controls International PLC (JCI) fell 0.90% to $62.55. Trading volume (3.3 M) eclipsed its 50-day average volume of 3.0 M.

Data source: Dow Jones Market Data, FactSet. Data compiled February 24, 2023.

(END) Dow Jones Newswires

February 24, 2023 17:00 ET (22:00 GMT)