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

Equities researchers at StockNews.com started coverage on shares of BP Prudhoe Bay Royalty Trust (NYSE:BPT) in a research report issued on Saturday. The firm set a “sell” rating on the oil and gas company’s stock.

BP Prudhoe Bay Royalty Trust Price Performance

NYSE BPT opened at $0.58 on Friday. The business’s 50 day moving average price is $0.72 and its 200-day moving average price is $1.20. BP Prudhoe Bay Royalty Trust has a fifty-two week low of $0.40 and a fifty-two week 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 raised its holdings in shares of BP Prudhoe Bay Royalty Trust (NYSE:BPT) by 60.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,759 shares of the oil and gas company’s stock after buying an additional 12,700 shares during the period. Welch Group LLC owned about 0.16% of BP Prudhoe Bay Royalty Trust worth $35,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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.