Pacific Coast Oil Trust (ROYT) Announces Monthly Dividend of $0.01
Pacific Coast Oil Trust (NYSE:ROYT) declared a monthly dividend on Monday, August 28th, Wall Street Journal reports. Stockholders of record on Tuesday, September 5th will be given a dividend of 0.0093 per share by the oil and gas producer on Friday, September 15th. This represents a $0.11 annualized dividend and a dividend yield of 7.65%. The ex-dividend date is Thursday, August 31st. This is a positive change from Pacific Coast Oil Trust’s previous monthly dividend of $0.00266.
Pacific Coast Oil Trust has decreased its dividend by an average of 85.1% annually over the last three years. Pacific Coast Oil Trust has a dividend payout ratio of 25.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Pacific Coast Oil Trust to earn $0.28 per share next year, which means the company should continue to be able to cover its $0.03 annual dividend with an expected future payout ratio of 10.7%.
Shares of Pacific Coast Oil Trust (ROYT) traded down 0.68% during trading on Monday, reaching $1.46. 1,130,715 shares of the company were exchanged. Pacific Coast Oil Trust has a 52-week low of $0.87 and a 52-week high of $2.23. The stock has a 50-day moving average of $1.63 and a 200 day moving average of $1.75. The stock has a market capitalization of $56.33 million, a P/E ratio of 33.95 and a beta of 2.06.
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A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Pacific Coast Oil Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, June 21st. Stifel Nicolaus lowered shares of Pacific Coast Oil Trust from a “buy” rating to a “hold” rating and cut their price target for the stock from $2.00 to $1.50 in a research note on Thursday, July 13th.
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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