Pacific Coast Oil Trust (NYSE:ROYT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
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. “
Shares of Pacific Coast Oil Trust (NYSE:ROYT) opened at 1.20 on Wednesday. The firm has a market capitalization of $46.30 million, a P/E ratio of 9.30 and a beta of 1.85. Pacific Coast Oil Trust has a 52 week low of $0.68 and a 52 week high of $2.21. The firm’s 50-day moving average is $1.59 and its 200 day moving average is $1.81.
A hedge fund recently raised its stake in Pacific Coast Oil Trust stock. Freestone Capital Holdings LLC increased its stake in shares of Pacific Coast Oil Trust (NYSE:ROYT) by 49.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor 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 at the end of the most recent reporting period. Hedge funds and other institutional investors own 7.15% of the company’s stock.
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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