Pacific Coast Oil Trust (NYSE:ROYT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.

According to Zacks, “Pacific Coast Oil Trust is formed to own interests in properties held by Pacific Coast Energy Company LP which are located in California in the Santa Maria and Los Angeles Basins. Pacific Coast Oil Trust is based in Austin, Texas. “

Separately, Stifel Nicolaus cut shares of Pacific Coast Oil Trust from a “buy” rating to a “hold” rating and set a $2.00 price target for the company. in a research report on Monday, February 27th. They noted that the move was a valuation call.

Shares of Pacific Coast Oil Trust (NYSE ROYT) traded up 1.94% during mid-day trading on Wednesday, reaching $1.58. 85,627 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $1.82 and a 200 day moving average price of $1.60. The firm has a market capitalization of $60.96 million, a price-to-earnings ratio of 316.00 and a beta of 2.08. Pacific Coast Oil Trust has a 12-month low of $0.87 and a 12-month high of $2.23.

The firm also recently declared a monthly dividend, which was paid on Thursday, June 15th. Stockholders of record on Monday, June 5th were given a $0.0067 dividend. This represents a $0.08 annualized dividend and a dividend yield of 5.11%. The ex-dividend date was Thursday, June 1st. This is a boost from Pacific Coast Oil Trust’s previous monthly dividend of $0.01.

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A hedge fund recently raised its stake in Pacific Coast Oil Trust stock. UBS Group AG boosted its position in shares of Pacific Coast Oil Trust (NYSE:ROYT) by 0.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,202,965 shares of the oil and gas producer’s stock after buying an additional 7,015 shares during the period. UBS Group AG owned approximately 3.12% of Pacific Coast Oil Trust worth $2,262,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 10.14% of the company’s stock.

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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