Pacific Coast Oil Trust Downgraded by Zacks to Underperform (ROYT)
Pacific Coast Oil Trust (NASDAQ:ROYT) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued to investors on Tuesday, AmericanBankingNews.com reports. They currently have a $12.50 target price on the stock. Zacks‘ price objective suggests a potential downside of 5.09% from the company’s current price.
A number of other firms have also recently commented on ROYT. Analysts at JPMorgan Chase & Co. upgraded shares of Pacific Coast Oil Trust from a “neutral” rating to an “overweight” rating in a research note to investors on Monday, December 2nd. They now have a $17.00 price target on the stock, down previously from $19.00. Analysts at Barclays cut their price target on shares of Pacific Coast Oil Trust from $20.00 to $19.00 in a research note to investors on Friday, November 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $15.88.
The company also recently announced a monthly dividend, which is scheduled for Wednesday, January 15th. Shareholders of record on Monday, January 6th will be paid a dividend of 0.1283 per share. This represents a $1.54 annualized dividend and a dividend yield of 11.69%. The ex-dividend date is Thursday, January 2nd.
Pacific Coast Oil Trust is a statutory trust formed by Pacific Coast Energy Company LP (NASDAQ:ROYT) to own interests in the Underlying Properties.
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