Narwhal Capital Management Purchases 9,737 Shares of BP Prudhoe Bay Royalty Trust (NYSE:BPT)

Narwhal Capital Management boosted its stake in BP Prudhoe Bay Royalty Trust (NYSE:BPT) by 49.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,284 shares of the oil and gas company’s stock after purchasing an additional 9,737 shares during the quarter. Narwhal Capital Management owned approximately 0.14% of BP Prudhoe Bay Royalty Trust worth $72,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Envestnet Asset Management Inc. bought a new stake in BP Prudhoe Bay Royalty Trust in the 1st quarter worth approximately $300,000. NewEdge Advisors LLC grew its stake in BP Prudhoe Bay Royalty Trust by 239.0% in the first quarter. NewEdge Advisors LLC now owns 41,572 shares of the oil and gas company’s stock worth $622,000 after purchasing an additional 29,308 shares during the period. BNP Paribas Arbitrage SA purchased a new stake in BP Prudhoe Bay Royalty Trust in the first quarter worth $233,000. Northern Trust Corp purchased a new stake in shares of BP Prudhoe Bay Royalty Trust in the second quarter worth $1,024,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of BP Prudhoe Bay Royalty Trust in the second quarter worth $475,000. Hedge funds and other institutional investors own 5.66% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded BP Prudhoe Bay Royalty Trust from a “hold” rating to a “sell” rating in a report on Monday, March 18th.

BP Prudhoe Bay Royalty Trust Stock Performance

NYSE BPT traded down $0.06 during trading on Friday, hitting $3.06. 272,989 shares of the stock traded hands, compared to its average volume of 167,931. The firm has a 50-day simple moving average of $2.44 and a 200-day simple moving average of $3.48. BP Prudhoe Bay Royalty Trust has a 12-month low of $2.00 and a 12-month high of $8.79.

BP Prudhoe Bay Royalty Trust Profile

BP Prudhoe Bay Royalty Trust operates as a grantor trust in the United States. It holds 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.