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

StockNews.com initiated coverage on shares of BP Prudhoe Bay Royalty Trust (NYSE:BPT) in a research note released on Thursday morning. The brokerage issued a sell rating on the oil and gas company’s stock.

BP Prudhoe Bay Royalty Trust Trading Down 1.9 %

BPT opened at $0.56 on Thursday. The business’s 50 day moving average price is $0.57 and its 200 day moving average price is $0.84. BP Prudhoe Bay Royalty Trust has a one year low of $0.40 and a one year high of $3.20.

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 purchased a new stake in shares of BP Prudhoe Bay Royalty Trust (NYSE:BPT) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 429,752 shares of the oil and gas company’s stock, valued at approximately $234,000. Ashton Thomas Private Wealth LLC owned about 2.01% of BP Prudhoe Bay Royalty Trust at the end of the most recent reporting period. 5.66% of the stock is currently owned by hedge funds and other institutional investors.

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.