StockNews.com Initiates Coverage on BP Prudhoe Bay Royalty Trust (NYSE:BPT)

Research analysts at StockNews.com started coverage on shares of BP Prudhoe Bay Royalty Trust (NYSE:BPT) in a report released on Tuesday. The brokerage set a “sell” rating on the oil and gas company’s stock.

BP Prudhoe Bay Royalty Trust Trading Up 5.4 %

NYSE BPT opened at $0.59 on Tuesday. BP Prudhoe Bay Royalty Trust has a 12 month low of $0.40 and a 12 month high of $2.61. The company’s fifty day moving average price is $0.56 and its two-hundred day moving average price is $0.70.

Institutional Trading of BP Prudhoe Bay Royalty Trust

A hedge fund recently bought a new stake in BP Prudhoe Bay Royalty Trust stock. Ashton Thomas Private Wealth LLC bought a new position in shares of BP Prudhoe Bay Royalty Trust (NYSE:BPT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 429,752 shares of the oil and gas company’s stock, valued at approximately $234,000. Ashton Thomas Private Wealth LLC owned 2.01% of BP Prudhoe Bay Royalty Trust as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 5.66% of the company’s stock.

BP Prudhoe Bay Royalty Trust Company Profile

BP Prudhoe Bay Royalty Trust operates as a grantor trust in the United States. It is involved in holding overriding royalty interest in the Prudhoe Bay oil field located on the North Slope of Alaska. The Prudhoe Bay field extends approximately 12 miles by 27 miles and contains approximately 150,000 gross productive acres.