Pacific Coast Oil Trust (NYSE:ROYT) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Pacific Coast Oil Trust (NYSE:ROYT) from a hold rating to a buy rating in a research report released on Thursday morning, Zacks.com reports. They currently have $1.50 target price on the oil and gas producer’s stock.

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 stock traded up $0.06 during mid-day trading on Thursday, hitting $1.44. The stock had a trading volume of 3,115 shares, compared to its average volume of 358,151. The firm has a market capitalization of $56.03 million, a P/E ratio of 4.39 and a beta of 1.93. The firm’s 50 day moving average is $1.85 and its 200 day moving average is $2.09. Pacific Coast Oil Trust has a one year low of $1.31 and a one year high of $2.72.

Pacific Coast Oil Trust (NYSE:ROYT) last issued its earnings results on Thursday, August 1st. The oil and gas producer reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. The company had revenue of $12.13 million during the quarter. Pacific Coast Oil Trust had a net margin of 23.98% and a return on equity of 6.20%. On average, research analysts predict that Pacific Coast Oil Trust will post 0.22 earnings per share for the current year.

An institutional investor recently bought a new position in Pacific Coast Oil Trust stock. Marshall Wace LLP bought a new position in Pacific Coast Oil Trust (NYSE:ROYT) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 22,164 shares of the oil and gas producer’s stock, valued at approximately $47,000. Marshall Wace LLP owned 0.06% of Pacific Coast Oil Trust as of its most recent filing with the SEC. 12.39% of the stock is currently owned by institutional investors.

Pacific Coast Oil Trust Company Profile

Pacific Coast Oil Trust acquires and holds net profits and royalty interests in various oil and natural gas properties located in California. Its properties include Orcutt properties located in the Santa Maria Basin; and West Pico, East Coyote, and Sawtelle properties located in the Los Angeles Basin of California.

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