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

Investment analysts at StockNews.com started coverage on shares of BP Prudhoe Bay Royalty Trust (NYSE:BPTGet Free Report) in a research note issued on Saturday. The brokerage set a “sell” rating on the oil and gas company’s stock.

BP Prudhoe Bay Royalty Trust Stock Performance

Shares of BPT stock opened at $0.58 on Friday. The company’s 50-day simple moving average is $0.72 and its two-hundred day simple moving average is $1.20. BP Prudhoe Bay Royalty Trust has a one year low of $0.40 and a one year high of $3.20.

Hedge Funds Weigh In On BP Prudhoe Bay Royalty Trust

An institutional investor recently raised its position in BP Prudhoe Bay Royalty Trust stock. Welch Group LLC boosted its holdings in shares of BP Prudhoe Bay Royalty Trust (NYSE:BPTFree Report) by 60.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,759 shares of the oil and gas company’s stock after acquiring an additional 12,700 shares during the period. Welch Group LLC owned about 0.16% of BP Prudhoe Bay Royalty Trust worth $35,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 5.66% of the company’s stock.

About BP Prudhoe Bay Royalty Trust

(Get Free Report)

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.

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