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

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

BP Prudhoe Bay Royalty Trust Stock Performance

Shares of NYSE BPT opened at $0.56 on Friday. The stock’s fifty day simple moving average is $0.57 and its 200 day simple moving average is $0.81. BP Prudhoe Bay Royalty Trust has a 52-week low of $0.40 and a 52-week high of $3.05.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in BP Prudhoe Bay Royalty Trust stock. Ashton Thomas Private Wealth LLC acquired a new position in shares of BP Prudhoe Bay Royalty Trust (NYSE:BPT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 429,752 shares of the oil and gas company’s stock, valued at approximately $234,000. Ashton Thomas Private Wealth LLC owned approximately 2.01% of BP Prudhoe Bay Royalty Trust as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 5.66% of the company’s stock.

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.