BP Prudhoe Bay Royalty Trust (NYSE:BPT) Announces Quarterly Dividend of $0.70

BP Prudhoe Bay Royalty Trust (NYSE:BPT – Get Rating) announced a quarterly dividend on Monday, October 10, reports The Wall Street Journal. Shareholders of record on Monday, October 17 will receive a dividend of 0.7031 per share from the oil and gas company on Wednesday, October 19. This represents a dividend of $2.81 on an annualized basis and a yield of 20.83%. The ex-dividend date is Friday, October 14.

BP Prudhoe Bay Royalty Trust has decreased its dividend by an average of 73.9% per year over the past three years and has increased its dividend each year for the past 1 consecutive years.

BP Prudhoe Bay Royalty Trust Share Performance

Shares of NYSE BPT traded at $0.27 at midday Monday, hitting $13.50. The stock had a trading volume of 730,037 shares, compared to an average trading volume of 693,766. The stock has a 50-day moving average of $15.08 and a 200-day moving average of $16.86. BP Prudhoe Bay Royalty Trust has a 12-month low of $3.41 and a 12-month high of $26.08.

Hedge funds weigh on BP Prudhoe Bay Royalty Trust

Several institutional investors have recently bought and sold shares of BPT. Northern Trust Corp bought a new position in shares of BP Prudhoe Bay Royalty Trust during the second quarter, valued at approximately $1,024,000. NewEdge Advisors LLC increased its stake in BP Prudhoe Bay Royalty Trust shares by 239.0% during the first quarter. NewEdge Advisors LLC now owns 41,572 shares of the oil and gas company valued at $622,000 after buying 29,308 additional shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stock position in BP Prudhoe Bay Royalty Trust during the second quarter, valued at approximately $475,000. Envestnet Asset Management Inc. bought a new stock position in BP Prudhoe Bay Royalty Trust during the first quarter, valued at approximately $300,000. Finally, BNP Paribas Arbitrage SA bought a new position in shares of BP Prudhoe Bay Royalty Trust during the first quarter worth approximately $233,000.

About BP Prudhoe Bay Royalty Trust

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BP Prudhoe Bay Royalty Trust operates as a grantor trust in the United States. The company holds preponderant royalty interests in the Prudhoe Bay oil field located on the North Slope of Alaska. The Prudhoe Bay field is approximately 12 miles by 27 miles and contains approximately 150,000 acres of gross production.

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Dividend history for BP Prudhoe Bay Royalty Trust (NYSE: BPT)

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