Pacific Coast Oil Trust (ROYT) To Go Ex-Dividend on November 9th
Pacific Coast Oil Trust (NYSE:ROYT) announced a monthly dividend on Wednesday, November 1st, Wall Street Journal reports. Investors of record on Friday, November 10th will be paid a dividend of 0.0126 per share by the oil and gas producer on Monday, November 27th. This represents a $0.15 annualized dividend and a dividend yield of 8.92%. The ex-dividend date of this dividend is Thursday, November 9th. This is an increase from Pacific Coast Oil Trust’s previous monthly dividend of $0.00117.
Pacific Coast Oil Trust has decreased its dividend payment by an average of 85.1% per year over the last three years. Pacific Coast Oil Trust has a dividend payout ratio of 78.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Pacific Coast Oil Trust to earn $0.28 per share next year, which means the company should continue to be able to cover its $0.15 annual dividend with an expected future payout ratio of 53.6%.
Shares of Pacific Coast Oil Trust (NYSE:ROYT) opened at $1.70 on Wednesday. The stock has a market capitalization of $65.59, a P/E ratio of 42.50 and a beta of 2.15. Pacific Coast Oil Trust has a 1-year low of $0.94 and a 1-year high of $2.23.
Several brokerages recently issued reports on ROYT. Stifel Nicolaus reissued a “hold” rating and issued a $1.50 price target on shares of Pacific Coast Oil Trust in a report on Sunday, October 1st. Zacks Investment Research raised Pacific Coast Oil Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, September 13th.
About Pacific Coast Oil Trust
Pacific Coast Oil Trust is a statutory trust formed by Pacific Coast Energy Company LP (PCEC). The Trust is engaged in acquiring and holding net profits and royalty interests in certain oil and natural gas properties located in California for the benefit of the Trust unitholders. The Underlying Properties consist of producing and non-producing interests in oil units, wells and lands located onshore in California in the Santa Maria Basin, which contains PCEC’s Orcutt properties, and the Los Angeles Basin, which contains PCEC’s West Pico, East Coyote and Sawtelle properties.
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