Ashton Thomas Private Wealth LLC Sells 463,429 Shares of San Juan Basin Royalty Trust $SJT

Key Points

• Ashton Thomas Private Wealth cut its SJT stake by 49% in the third quarter, selling 463,429 shares. It still held 482,614 shares, about 1.04% of the trust, valued at $1.76 million.
• Other institutions made mixed moves: Mad River Investors and Wyoming opened positions, while Punch & Associates and Lesa Sroufe & Co increased their holdings. Institutional investors collectively owned 10.42% of SJT.
• SJT was reported up 13.7%, with shares opening at $3.65; however, the stock’s average analyst rating remains Sell, and Weiss Ratings also maintains a Sell rating.

Ashton Thomas Private Wealth LLC decreased its stake in San Juan Basin Royalty Trust (NYSE:SJT - Free Report) by 49.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 482,614 shares of the oil and gas producer's stock after selling 463,429 shares during the quarter. Ashton Thomas Private Wealth LLC owned approximately 1.04% of San Juan Basin Royalty Trust worth $1,762,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of SJT. Mad River Investors purchased a new position in San Juan Basin Royalty Trust in the 3rd quarter valued at about $2,181,000. Punch & Associates Investment Management Inc. increased its stake in San Juan Basin Royalty Trust by 34.2% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 939,225 shares of the oil and gas producer's stock worth $4,518,000 after buying an additional 239,225 shares in the last quarter. State of Wyoming purchased a new stake in San Juan Basin Royalty Trust during the 3rd quarter worth approximately $531,000. Finally, Lesa Sroufe & Co increased its stake in San Juan Basin Royalty Trust by 1.9% during the 3rd quarter. Lesa Sroufe & Co now owns 592,321 shares of the oil and gas producer's stock worth $2,162,000 after buying an additional 11,057 shares in the last quarter. Hedge funds and other institutional investors own 10.42% of the company's stock.

San Juan Basin Royalty Trust Stock Up 13.7%

Shares of NYSE SJT opened at $3.65 on Tuesday. The firm has a 50-day simple moving average of $3.42 and a 200-day simple moving average of $3.93. The stock has a market capitalization of $170.13 million, a price-to-earnings ratio of -365.00 and a beta of 0.55. San Juan Basin Royalty Trust has a 52 week low of $2.37 and a 52 week high of $6.55.

Analyst Ratings Changes

Separately, Weiss Ratings cut San Juan Basin Royalty Trust from a "sell (d)" rating to a "sell (e+)" rating in a report on Friday, August 21st. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the stock currently has an average rating of "Sell".

San Juan Basin Royalty Trust Profile

San Juan Basin Royalty Trust is a grantor trust that owns royalty interests in oil and natural gas properties located in the San Juan Basin of northwestern New Mexico. The trust does not operate wells, develop properties or sell energy products directly; instead, it receives royalty payments from production generated by the underlying properties.

The trust's interests were originally conveyed by Southland Royalty Company, and the properties are operated by third-party energy companies.

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