BP Prudhoe Bay Royalty Trust (NYSE:BPT) Stock Price Down 17.2%

BP Prudhoe Bay Royalty Trust (NYSE:BPT) shares traded down 17.2% on Friday . The company traded as low as $8.96 and last traded at $9.08, 1,051,816 shares changed hands during mid-day trading. An increase of 224% from the average session volume of 324,295 shares. The stock had previously closed at $10.97.

Separately, TheStreet upgraded shares of Telefonaktiebolaget LM Ericsson from a “c” rating to a “b” rating in a research report on Monday, July 8th.

The stock has a market cap of $223.14 million, a price-to-earnings ratio of 2.32 and a beta of -0.10. The firm has a 50-day moving average of $15.09.

BP Prudhoe Bay Royalty Trust (NYSE:BPT) last posted its quarterly earnings results on Friday, May 10th. The oil and gas company reported $1.00 earnings per share for the quarter. The business had revenue of $21.76 million during the quarter. BP Prudhoe Bay Royalty Trust had a net margin of 98.92% and a return on equity of 15,192.85%.

The company also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Shareholders of record on Tuesday, July 16th were given a $0.551 dividend. The ex-dividend date of this dividend was Monday, July 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 24.28%.

Several hedge funds have recently added to or reduced their stakes in BPT. Joseph P. Lucia & Associates LLC purchased a new position in shares of BP Prudhoe Bay Royalty Trust in the second quarter worth $25,000. Marshall Wace North America L.P. purchased a new position in shares of BP Prudhoe Bay Royalty Trust in the first quarter worth $37,000. U S Global Investors Inc. purchased a new position in shares of BP Prudhoe Bay Royalty Trust in the first quarter worth $40,000. Advisory Services Network LLC lifted its holdings in shares of BP Prudhoe Bay Royalty Trust by 30.3% in the fourth quarter. Advisory Services Network LLC now owns 6,512 shares of the oil and gas company’s stock worth $141,000 after buying an additional 1,515 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of BP Prudhoe Bay Royalty Trust in the fourth quarter worth $200,000. 4.31% of the stock is currently owned by hedge funds and other institutional investors.

About BP Prudhoe Bay Royalty Trust (NYSE:BPT)

BP Prudhoe Bay Royalty Trust operates as a grantor trust in the United States. The company holds overriding royalty interest comprising a non-operational interest in minerals 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.

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