NEW YORK ( TheStreet) -- BP Prudhoe Bay Royalty (NYSE: BPT) hit a new 52-week high Friday as it is currently trading at $124.50, above its previous 52-week high of $124.49 with 20,708 shares traded as of 11:49 a.m. ET. Average volume has been 74,100 shares over the past 30 days.

BP Prudhoe Bay Royalty has a market cap of $2.48 billion and is part of the basic materials sector and energy industry. Shares are up 8.7% year to date as of the close of trading on Thursday.

BP Prudhoe Bay Royalty Trust operates as a grantor trust in the United States. The company holds overriding royalty interests constituting a non-operational interest in minerals in the Prudhoe Bay oil field located on the North Slope in Alaska. The company has a P/E ratio of 46.3, above the average energy industry P/E ratio of 12.3 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates BP Prudhoe Bay Royalty as a buy. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity and solid stock price performance. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full BP Prudhoe Bay Royalty Ratings Report.

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