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

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

BP Prudhoe Bay Royalty Trust Price Performance

BPT stock opened at $0.57 on Wednesday. The company’s fifty day moving average price is $0.56 and its 200-day moving average price is $0.88. BP Prudhoe Bay Royalty Trust has a one year low of $0.40 and a one year high of $3.20.

Institutional Investors Weigh In On BP Prudhoe Bay Royalty Trust

A hedge fund recently bought a new stake in BP Prudhoe Bay Royalty Trust stock. Ashton Thomas Private Wealth LLC purchased a new position in BP Prudhoe Bay Royalty Trust (NYSE:BPT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 about 2.01% of BP Prudhoe Bay Royalty Trust as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 5.66% of the company’s stock.

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.