BP Prudhoe Bay Royalty Trust (NYSE:BPT) Coverage Initiated by Analysts at StockNews.com

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

BP Prudhoe Bay Royalty Trust Stock Performance

Shares of BPT opened at $0.60 on Wednesday. The company’s 50 day simple moving average is $0.56 and its 200-day simple moving average is $0.89. BP Prudhoe Bay Royalty Trust has a 12-month low of $0.40 and a 12-month high of $3.20.

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 acquired a new stake in BP Prudhoe Bay Royalty Trust (NYSE:BPT) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 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 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.