Pacific Coast Oil Trust (NYSE:ROYT) declared a dividend on Thursday, May 31st, Fidelity reports. Stockholders of record on Monday, June 11th will be given a dividend of 0.0188 per share by the oil and gas producer on Monday, June 25th. The ex-dividend date is Friday, June 8th.
Pacific Coast Oil Trust has decreased its dividend by an average of 56.8% annually over the last three years. Pacific Coast Oil Trust has a dividend payout ratio of 173.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Pacific Coast Oil Trust to earn $0.11 per share next year, which means the company may not be able to cover its $0.33 annual dividend with an expected future payout ratio of 300.0%.
Pacific Coast Oil Trust opened at $2.10 on Friday, according to MarketBeat.com. The firm has a market capitalization of $84.50 million, a PE ratio of 27.38 and a beta of 2.21. Pacific Coast Oil Trust has a 12 month low of $1.36 and a 12 month high of $2.75.
Separately, Zacks Investment Research raised Pacific Coast Oil Trust from a “sell” rating to a “hold” rating in a research report on Thursday, March 29th.
About Pacific Coast Oil Trust
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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