BidaskClub Upgrades BP Prudhoe Bay Royalty Trust (BPT) to Buy
BP Prudhoe Bay Royalty Trust (NYSE:BPT) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.
Separately, TheStreet lowered shares of BP Prudhoe Bay Royalty Trust from a “c” rating to a “d+” rating in a report on Wednesday, March 29th.
Shares of BP Prudhoe Bay Royalty Trust (BPT) traded up 2.61% during mid-day trading on Thursday, hitting $21.65. 407,805 shares of the stock were exchanged. BP Prudhoe Bay Royalty Trust has a 52-week low of $15.00 and a 52-week high of $32.95. The stock’s 50-day moving average price is $20.40 and its 200-day moving average price is $22.82. The company has a market cap of $463.29 million, a P/E ratio of 8.91 and a beta of -0.53.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 20th. Stockholders of record on Sunday, July 16th will be given a dividend of $0.8329 per share. The ex-dividend date is Wednesday, July 12th. This represents a $3.33 annualized dividend and a dividend yield of 15.39%. BP Prudhoe Bay Royalty Trust’s payout ratio is 180.66%.
About BP Prudhoe Bay Royalty Trust
BP Prudhoe Bay Royalty Trust is a grantor trust. The property of the Trust consists of an overriding royalty interest (the Royalty Interest), and cash and cash equivalents held by the Trustee from time to time. The Royalty Interest entitles the Trust to a royalty on 16.4% of the lesser of the first 90,000 barrels of the average actual daily net production of crude oil and condensate per quarter from the working interest of BP Exploration (Alaska) Inc (BP Alaska) as of February 28, 1989 in the Prudhoe Bay oil field located on the North Slope in Alaska or the average actual daily net production of crude oil and condensate per quarter from that working interest.
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