Pacific Coast Oil Trust (NYSE:ROYT) announced a monthly dividend on Friday, December 1st, Wall Street Journal reports. Shareholders of record on Monday, December 11th will be given a dividend of 0.0161 per share by the oil and gas producer on Tuesday, December 26th. This represents a $0.19 annualized dividend and a yield of 11.46%. The ex-dividend date is Friday, December 8th. This is a positive change from Pacific Coast Oil Trust’s previous monthly dividend of $0.01.

Pacific Coast Oil Trust has decreased its dividend payment by an average of 85.1% per year over the last three years. Pacific Coast Oil Trust has a payout ratio of 78.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. 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 $0.15 annual dividend with an expected future payout ratio of 53.6%.

Pacific Coast Oil Trust (ROYT) traded up $0.01 on Friday, reaching $1.69. 75,500 shares of the company’s stock traded hands, compared to its average volume of 139,487. Pacific Coast Oil Trust has a 12-month low of $0.94 and a 12-month high of $2.23. The company has a market capitalization of $65.21, a P/E ratio of 21.00 and a beta of 2.17.

ROYT has been the subject of several research analyst reports. Stifel Nicolaus reaffirmed a “hold” rating and issued a $1.50 price target on shares of Pacific Coast Oil Trust in a research note on Sunday, October 1st. Zacks Investment Research raised shares of Pacific Coast Oil Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, September 13th.

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About Pacific Coast Oil Trust

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.

Dividend History for Pacific Coast Oil Trust (NYSE:ROYT)

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