San Juan Basin Royalty Trust (NYSE:SJT) Stock: Insider Eric Oliver Buys 203,962 Shares

Key Points

• Major shareholder Eric Oliver bought 203,962 shares at an average $4.41 each, spending about $899,472; his holdings rose 3.93% to approximately 5.4 million shares.
• San Juan Basin Royalty Trust shares fell 8.6% to $3.96 in Friday trading, despite several institutional investors increasing or initiating positions.
• Analyst sentiment remains negative: Weiss Ratings downgraded the trust, and its consensus rating is Sell.

San Juan Basin Royalty Trust (NYSE:SJT - Get Free Report) major shareholder Eric Oliver purchased 203,962 shares of the stock in a transaction that occurred on Thursday, November 12th. The stock was acquired at an average cost of $4.41 per share, for a total transaction of $899,472.42. Following the completion of the acquisition, the insider owned 5,397,983 shares in the company, valued at $23,805,105.03. This represents a 3.93% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

San Juan Basin Royalty Trust Stock Down 8.6%

SJT stock traded down $0.38 during midday trading on Friday, hitting $3.96. The company's stock had a trading volume of 181,117 shares, compared to its average volume of 239,738. San Juan Basin Royalty Trust has a 12 month low of $2.37 and a 12 month high of $6.55. The company has a 50 day moving average of $3.51 and a two-hundred day moving average of $3.90. The firm has a market capitalization of $184.81 million, a price-to-earnings ratio of -396.50 and a beta of 0.55.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SJT. Mad River Investors purchased a new position in shares of San Juan Basin Royalty Trust during the third quarter valued at about $2,181,000. Horizon Kinetics Asset Management LLC increased its holdings in shares of San Juan Basin Royalty Trust by 5.7% in the third quarter. Horizon Kinetics Asset Management LLC now owns 7,924,698 shares of the oil and gas producer's stock worth $28,925,000 after purchasing an additional 430,678 shares during the last quarter. Moors & Cabot Inc. lifted its position in shares of San Juan Basin Royalty Trust by 39.9% in the third quarter. Moors & Cabot Inc. now owns 1,201,995 shares of the oil and gas producer's stock worth $4,387,000 after buying an additional 342,805 shares in the last quarter. Punch & Associates Investment Management Inc. lifted its position in shares of San Juan Basin Royalty Trust by 34.2% in the first 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. Finally, State of Wyoming bought a new position in San Juan Basin Royalty Trust during the third quarter valued at approximately $531,000. Institutional investors own 10.42% of the company's stock.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of 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.com, the company currently has a consensus rating of "Sell".

About San Juan Basin Royalty Trust

San Juan Basin Royalty Trust is a passive royalty trust that holds interests in oil and natural gas properties in the San Juan Basin of northwestern New Mexico. Its assets are concentrated in producing properties, with natural gas representing a significant part of the underlying production. The trust does not explore for or produce oil and gas itself. Instead, it receives proceeds attributable to its royalty interests, pays trust expenses and distributes available funds to its unitholders. Established in 1980, the trust's activities are focused on its interests in the San Juan Basin rather than on operating a diversified business or serving customers directly.

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