Pacific Coast Oil Trust Sees Large Volume Increase Following Dividend Announcement (ROYT)
Pacific Coast Oil Trust (NASDAQ:ROYT) saw strong trading volume on Tuesday after the company announced a dividend, Stock Ratings News reports. 650,991 shares changed hands during trading, an increase of 39% from the previous session’s volume of 467,397 shares.The stock last traded at $11.47 and had previously closed at $11.35.
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.
A number of research firms have recently commented on ROYT. 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $13.21.
The stock’s 50-day moving average is $11.01 and its 200-day moving average is $12.66. The company has a market cap of $443.3 million and a price-to-earnings ratio of 6.79.
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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