Pacific Coast Oil Trust (ROYT) to Issue $0.01 Monthly Dividend
Pacific Coast Oil Trust (NYSE:ROYT) declared a monthly dividend on Thursday, April 27th. Shareholders of record on Monday, May 8th will be paid a dividend of 0.0054 per share by the oil and gas producer on Thursday, May 18th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend is Thursday, May 4th.
Pacific Coast Oil Trust has decreased its dividend by an average of 85.1% per year over the last three years. Pacific Coast Oil Trust has a dividend payout ratio of 3,100.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Pacific Coast Oil Trust to earn $0.28 per share next year, which means the company may not be able to cover its $0.31 annual dividend with an expected future payout ratio of 110.7%.
Shares of Pacific Coast Oil Trust (NYSE:ROYT) traded down 10.95% on Thursday, hitting $1.87. 334,193 shares of the company’s stock were exchanged. The stock has a market cap of $72.15 million, a price-to-earnings ratio of 311.67 and a beta of 1.70. The company’s 50-day moving average price is $1.82 and its 200 day moving average price is $1.50. Pacific Coast Oil Trust has a 12-month low of $0.87 and a 12-month high of $2.23.
Several analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Pacific Coast Oil Trust from a “sell” rating to a “hold” rating in a research note on Thursday, January 12th. Stifel Nicolaus cut shares of Pacific Coast Oil Trust from a “buy” rating to a “hold” rating and set a $2.00 price objective for the company. in a research note on Monday, February 27th. They noted that the move was a valuation call.
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Pacific Coast Oil Trust Company Profile
Pacific Coast Oil Trust is a statutory trust formed by Pacific Coast Energy Company LP (PCEC). The Trust is engaged in acquiring and holding net profits and royalty interests in certain oil and natural gas properties located in California for the benefit of the Trust unitholders. The Underlying Properties consist of producing and non-producing interests in oil units, wells and lands located onshore in California in the Santa Maria Basin, which contains PCEC’s Orcutt properties, and the Los Angeles Basin, which contains PCEC’s West Pico, East Coyote and Sawtelle properties.
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