Pacific Coast Oil Trust (NYSE:ROYT) Trading Up 9.1%

Posted by on Dec 5th, 2019

Pacific Coast Oil Trust (NYSE:ROYT) shares were up 9.1% during mid-day trading on Wednesday . The company traded as high as $0.24 and last traded at $0.24, approximately 1,101,400 shares changed hands during trading. An increase of 283% from the average daily volume of 287,884 shares. The stock had previously closed at $0.22.

A number of analysts have recently issued reports on ROYT shares. TheStreet downgraded Pacific Coast Oil Trust from a “b-” rating to a “c” rating in a research report on Wednesday, October 23rd. Zacks Investment Research upgraded Pacific Coast Oil Trust from a “hold” rating to a “buy” rating and set a $1.50 price target for the company in a research report on Wednesday, October 30th.

The stock has a 50 day simple moving average of $0.84 and a 200 day simple moving average of $1.76. The firm has a market capitalization of $8.49 million, a PE ratio of 0.72 and a beta of 1.61.

A hedge fund recently bought a new stake in Pacific Coast Oil Trust stock. Oppenheimer & Co. Inc. purchased a new position in Pacific Coast Oil Trust (NYSE:ROYT) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 40,295 shares of the oil and gas producer’s stock, valued at approximately $79,000. Oppenheimer & Co. Inc. owned 0.10% of Pacific Coast Oil Trust at the end of the most recent reporting period. 12.64% of the stock is currently owned by hedge funds and other institutional investors.

About Pacific Coast Oil Trust (NYSE:ROYT)

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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