Zacks Investment Research Lowers Pacific Coast Oil Trust (NYSE:ROYT) to Hold

Zacks Investment Research downgraded shares of Pacific Coast Oil Trust (NYSE:ROYT) from a buy rating to a hold rating in a report published on Friday morning, Zacks.com reports.

According to Zacks, “Pacific Coast Oil Trust is formed to own interests in properties held by Pacific Coast Energy Company LP which are located in California in the Santa Maria and Los Angeles Basins. Pacific Coast Oil Trust is based in Austin, Texas. “

Shares of NYSE ROYT opened at $1.44 on Friday. The company has a 50 day simple moving average of $1.83 and a 200-day simple moving average of $2.09. The company has a market capitalization of $53.24 million, a P/E ratio of 4.36 and a beta of 1.93. Pacific Coast Oil Trust has a 1 year low of $1.31 and a 1 year high of $2.71.

Pacific Coast Oil Trust (NYSE:ROYT) last announced its quarterly earnings results on Thursday, August 1st. The oil and gas producer reported $0.08 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.08. The business had revenue of $12.13 million during the quarter. Pacific Coast Oil Trust had a net margin of 23.98% and a return on equity of 6.20%. As a group, equities research analysts forecast that Pacific Coast Oil Trust will post 0.22 earnings per share for the current fiscal year.

A hedge fund recently bought a new stake in Pacific Coast Oil Trust stock. Marshall Wace LLP purchased a new position in shares of Pacific Coast Oil Trust (NYSE:ROYT) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 22,164 shares of the oil and gas producer’s stock, valued at approximately $47,000. Marshall Wace LLP owned about 0.06% of Pacific Coast Oil Trust at the end of the most recent reporting period. Hedge funds and other institutional investors own 12.39% of the company’s stock.

About Pacific Coast Oil Trust

Pacific Coast Oil Trust acquires and holds net profits and royalty interests in various oil and natural gas properties located in California. Its properties include Orcutt properties located in the Santa Maria Basin; and West Pico, East Coyote, and Sawtelle properties located in the Los Angeles Basin of California.

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