Stifel Cuts Price Target on Pacific Coast Oil Trust (ROYT) Following Updated Price Deck and Reserve Data

Stifel maintained a Buy rating on Pacific Coast Oil Trust (NYSE: ROYT), and cut the price target to $2.50 (from $3.00), following an updated Stifel price deck, and FY15 reserve data. The oil price deck calls for average WTI prices of $35/bbl (2Q16), $40/bbl (2H16), and $55/bbl (FY17).

Analyst Brian Brungardt commented, "We are modifying our estimates following the updated Stifel commodity price deck for 1Q16 pricing along with the FY15 reserve data. Additionally, we note the trust continues to trade at a significant discount to PV-10 while the perpetual trust comp group trades, on average at approximately 103% premium to stated PV-10/unit."

For an analyst ratings summary and ratings history on Pacific Coast Oil Trust click here. For more ratings news on Pacific Coast Oil Trust click here.

Shares of Pacific Coast Oil Trust closed at $1.48 yesterday.

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