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

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

BP Prudhoe Bay Royalty Trust Stock Performance

Shares of NYSE BPT opened at $0.54 on Monday. The business has a 50-day simple moving average of $0.56 and a two-hundred day simple moving average of $0.72. BP Prudhoe Bay Royalty Trust has a 52 week low of $0.40 and a 52 week high of $2.61.

Institutional Investors 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 bought a new stake in BP Prudhoe Bay Royalty Trust (NYSE:BPT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 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 as of its most recent SEC filing. 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.