Pacific Coast Oil Trust (ROYT) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Pacific Coast Oil Trust (NYSE:ROYT) from a sell rating to a hold rating in a research note released on Thursday.

According to Zacks, “Pacific Coast Oil Trust is formed to own interests in properties held by Pacific Coast Energy Company LP which are located in California in the Santa Maria and Los Angeles Basins. Pacific Coast Oil Trust is based in Austin, Texas. “

Pacific Coast Oil Trust (NYSE:ROYT) opened at 1.84 on Thursday. The stock has a market capitalization of $70.99 million, a PE ratio of 14.26 and a beta of 1.84. Pacific Coast Oil Trust has a 12 month low of $0.68 and a 12 month high of $2.60. The company’s 50-day moving average is $1.90 and its 200-day moving average is $1.82.

A hedge fund recently raised its stake in Pacific Coast Oil Trust stock. Freestone Capital Holdings LLC raised its position in shares of Pacific Coast Oil Trust (NYSE:ROYT) by 49.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 913,546 shares of the company’s stock after buying an additional 303,604 shares during the period. Freestone Capital Holdings LLC owned approximately 2.37% of Pacific Coast Oil Trust worth $1,919,000 as of its most recent SEC filing. 7.18% of the stock is owned by hedge funds and other institutional investors.

About Pacific Coast Oil Trust

Pacific Coast Oil Trust is a statutory trust formed by Pacific Coast Energy Company LP (PCEC). The Trust is engaged in acquiring and holding net profits and royalty interests in certain oil and natural gas properties located in California for the benefit of the Trust unitholders. The Underlying Properties consist of producing and non-producing interests in oil units, wells and lands located onshore in California in the Santa Maria Basin, which contains PCEC’s Orcutt properties, and the Los Angeles Basin, which contains PCEC’s West Pico, East Coyote and Sawtelle properties.

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