BP Prudhoe Bay Royalty Trust (NYSE:BPT) Earns Sell Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of BP Prudhoe Bay Royalty Trust (NYSE:BPT) in a research note published on Saturday morning. The brokerage issued a sell rating on the oil and gas company’s stock.

BP Prudhoe Bay Royalty Trust Stock Down 7.1 %

Shares of BPT stock opened at $0.53 on Friday. The stock has a 50-day simple moving average of $0.71 and a 200 day simple moving average of $1.19. BP Prudhoe Bay Royalty Trust has a fifty-two week low of $0.40 and a fifty-two week high of $3.20.

Institutional Trading of BP Prudhoe Bay Royalty Trust

A hedge fund recently raised its stake in BP Prudhoe Bay Royalty Trust stock. Welch Group LLC boosted its holdings in BP Prudhoe Bay Royalty Trust (NYSE:BPT) by 60.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,759 shares of the oil and gas company’s stock after buying an additional 12,700 shares during the quarter. Welch Group LLC owned 0.16% of BP Prudhoe Bay Royalty Trust worth $35,000 as of its most recent SEC filing. 5.66% of the stock is currently owned by institutional investors and hedge funds.

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.