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

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

BP Prudhoe Bay Royalty Trust Stock Down 7.1 %

BPT stock opened at $0.53 on Friday. BP Prudhoe Bay Royalty Trust has a one year low of $0.40 and a one year high of $3.20. The firm has a 50-day moving average of $0.71 and a two-hundred day moving average of $1.19.

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 shares of BP Prudhoe Bay Royalty Trust (NYSE:BPT) by 60.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,759 shares of the oil and gas company’s stock after buying an additional 12,700 shares during the period. Welch Group LLC owned approximately 0.16% of BP Prudhoe Bay Royalty Trust worth $35,000 as of its most recent filing with the Securities and Exchange Commission. 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.