Pacific Coast Oil Trust Shares Up 6.8% After Dividend Announcement (ROYT)
Pacific Coast Oil Trust (NASDAQ:ROYT) was up 6.8% during trading on Monday after the company announced a dividend, Analyst Ratings Network reports. The company traded as high as $11.35 and last traded at $11.20, with a volume of 1,718,665 shares changing hands. The stock had previously closed at $10.49.
The newly announced dividend is scheduled for Monday, September 15th. Shareholders of record on Thursday, September 4th will be given a dividend of $0.1142 per share.
Several analysts have recently commented on the stock. Analysts at Wells Fargo & Co. upgraded shares of Pacific Coast Oil Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, August 12th. They now have a $10.25 price target on the stock. Separately, analysts at Stifel Nicolaus upgraded shares of Pacific Coast Oil Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, August 12th. They now have a $10.25 price target on the stock. Finally, analysts at Zacks upgraded shares of Pacific Coast Oil Trust from an “underperform” rating to a “neutral” rating in a research note on Thursday, July 31st. They now have a $11.00 price target on the stock. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $13.21.
The stock’s 50-day moving average is $11.0 and its 200-day moving average is $12.69. The company has a market cap of $437.9 million and a P/E ratio of 6.28.
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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