Crown Castle Inc. Stock Underperforms Tuesday When Compared To Competitors

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.

Crown Castle Inc. Stock Underperforms Tuesday When Compared To Competitors

4:44 pm ET February 28, 2023 (MarketWatch) Print

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

Shares of Crown Castle Inc. (CCI) sank 0.68% to $130.75 Tuesday, on what proved to be an all-around rough trading session for the stock market, with the S&P 500 Index falling 0.30% to 3,970.15 and Dow Jones Industrial Average falling 0.71% to 32,656.70. Crown Castle Inc. closed $69.22 short of its 52-week high ($199.97), which the company reached on April 21st.

The stock demonstrated a mixed performance when compared to some of its competitors Tuesday, as Verizon Communications Inc. (VZ) fell 0.18% to $38.81, AT&T Inc. (T) fell 0.63% to $18.91, and T-Mobile US Inc. (TMUS) fell 1.35% to $142.18. Trading volume (1.7 M) remained 305,813 below its 50-day average volume of 2.0 M.

Data source: Dow Jones Market Data, FactSet. Data compiled February 28, 2023.

(END) Dow Jones Newswires

February 28, 2023 16:44 ET (21:44 GMT)