Wells Fargo Downgrades Pacific Coast Oil Trust (ROYT) to Market Perform

Wells Fargo downgraded Pacific Coast Oil Trust (NYSE: ROYT) from Outperform to Market Perform with a price target of $9-$11 (from $17-$19). Analyst Gordon Douthat is concerned about potential fracking and cyclic steam injection restrictions in Santa Barbara County. Concerns related to a ballot initiative vote on November 4th.

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 $10.05 yesterday.

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