BP Prudhoe Bay Royalty Trust (NYSE:BPT) Research Coverage Started at StockNews.com

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

BP Prudhoe Bay Royalty Trust Stock Down 1.7 %

Shares of NYSE:BPT opened at $0.57 on Wednesday. BP Prudhoe Bay Royalty Trust has a 1-year low of $0.40 and a 1-year high of $3.20. The firm’s 50 day simple moving average is $0.56 and its two-hundred day simple moving average is $0.88.

Hedge Funds Weigh In On BP Prudhoe Bay Royalty Trust

An institutional investor recently bought a new position 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) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 429,752 shares of the oil and gas company’s stock, valued at approximately $234,000. Ashton Thomas Private Wealth LLC owned approximately 2.01% of BP Prudhoe Bay Royalty Trust 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.