Analysts at StockNews.com assumed coverage on shares of BP Prudhoe Bay Royalty Trust (NYSE:BPT – Get Free Report) in a research report issued to clients and investors on Saturday. The firm set a “sell” rating on the oil and gas company’s stock.
BP Prudhoe Bay Royalty Trust Stock Down 3.4 %
NYSE BPT opened at $0.58 on Friday. BP Prudhoe Bay Royalty Trust has a 52 week low of $0.40 and a 52 week high of $3.20. The company has a 50-day moving average price of $0.72 and a 200-day moving average price of $1.22.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in BP Prudhoe Bay Royalty Trust stock. Welch Group LLC boosted its holdings in BP Prudhoe Bay Royalty Trust (NYSE:BPT – Free Report) by 60.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,759 shares of the oil and gas company’s stock after purchasing an additional 12,700 shares during the quarter. Welch Group LLC owned approximately 0.16% of BP Prudhoe Bay Royalty Trust worth $35,000 as of its most recent SEC filing. 5.66% of the stock is currently owned by institutional investors.
About BP Prudhoe Bay Royalty Trust
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.
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