Insider Buying: San Juan Basin Royalty Trust (NYSE:SJT) Major Shareholder Acquires 92,759 Shares of Stock

Key Points

• Major shareholder Eric Oliver bought 92,759 SJT shares at an average price of $3.56, spending about $330,222. His holdings rose 2.02% to 4.68 million shares.
• SJT shares were reported up 5.9% and opened at $4.47; the trust’s 52-week trading range is $2.37 to $6.55.
• Analyst sentiment remains negative: Weiss Ratings maintained a sell-level assessment, and MarketBeat reports one analyst rating the stock a Sell. Institutional investors own 10.42% of shares.

San Juan Basin Royalty Trust (NYSE:SJT - Get Free Report) major shareholder Eric Oliver bought 92,759 shares of the firm's stock in a transaction on Monday, November 9th. The shares were bought at an average price of $3.56 per share, for a total transaction of $330,222.04. Following the completion of the transaction, the insider directly owned 4,683,189 shares in the company, valued at approximately $16,672,152.84. This represents a 2.02% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

San Juan Basin Royalty Trust Stock Up 5.9%

Shares of SJT opened at $4.47 on Thursday. San Juan Basin Royalty Trust has a 52-week low of $2.37 and a 52-week high of $6.55. The company has a 50-day simple moving average of $3.48 and a 200-day simple moving average of $3.91. The company has a market capitalization of $208.35 million, a PE ratio of -447.00 and a beta of 0.55.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Private Advisor Group LLC acquired a new stake in shares of San Juan Basin Royalty Trust in the third quarter valued at about $48,000. EagleClaw Capital Managment LLC acquired a new stake in San Juan Basin Royalty Trust during the 3rd quarter valued at approximately $63,000. Atlas Wealth Partners LLC increased its stake in shares of San Juan Basin Royalty Trust by 7.7% in the third quarter. Atlas Wealth Partners LLC now owns 43,206 shares of the oil and gas producer's stock worth $158,000 after buying an additional 3,100 shares during the last quarter. State of Wyoming increased its holdings in San Juan Basin Royalty Trust by 73.9% in the first quarter. State of Wyoming now owns 36,596 shares of the oil and gas producer's stock valued at $176,000 after buying an additional 15,552 shares during the last quarter. Finally, HighTower Advisors LLC acquired a new stake in shares of San Juan Basin Royalty Trust during the 3rd quarter valued at approximately $284,000. 10.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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 analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company presently has an average rating of "Sell".

San Juan Basin Royalty Trust Company 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. Revenues are derived primarily from the sale of crude oil, natural gas and related production, with proceeds distributed to the trust's unitholders after applicable production costs, taxes and administrative expenses.

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