San Juan Basin Royalty Trust (NYSE:SJT) Share Price Breaks Above 200-Day Moving Average - Should You Sell?

Key Points

• San Juan Basin Royalty Trust shares rose above their 200-day moving average, reaching $3.75 before last trading at $3.697, up 1.8%.
• Despite the technical move, analyst sentiment remains negative: Weiss Ratings downgraded the stock to “sell (e+),” and the consensus rating is “Sell.”
• Institutional investors own 10.42% of the trust, with several investors increasing their positions; the trust generates revenue from oil and natural gas royalty interests in New Mexico’s San Juan Basin.

San Juan Basin Royalty Trust (NYSE:SJT - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $3.58 and traded as high as $3.75. San Juan Basin Royalty Trust shares last traded at $3.6970, with a volume of 311,107 shares trading hands.

Analysts Set New Price Targets

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, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Sell".

San Juan Basin Royalty Trust Trading Up 1.8%

The stock has a market capitalization of $172.32 million, a PE ratio of -369.70 and a beta of 0.64. The firm has a 50-day moving average price of $2.88 and a 200-day moving average price of $3.58.

Institutional Trading of San Juan Basin Royalty Trust

A number of large investors have recently added to or reduced their stakes in SJT. SevenBridge Financial Group LLC bought a new stake in San Juan Basin Royalty Trust in the first quarter worth about $45,000. Welch Group LLC grew its position in shares of San Juan Basin Royalty Trust by 36.4% during the 1st quarter. Welch Group LLC now owns 30,008 shares of the oil and gas producer's stock valued at $144,000 after acquiring an additional 8,000 shares during the period. State of Wyoming grew its position in shares of San Juan Basin Royalty Trust by 73.9% during the 1st quarter. State of Wyoming now owns 36,596 shares of the oil and gas producer's stock valued at $176,000 after acquiring an additional 15,552 shares during the period. Pingora Partners LLC increased its stake in shares of San Juan Basin Royalty Trust by 111.2% during the 4th quarter. Pingora Partners LLC now owns 135,057 shares of the oil and gas producer's stock worth $759,000 after purchasing an additional 71,111 shares during the last quarter. Finally, Lesa Sroufe & Co increased its stake in shares of San Juan Basin Royalty Trust by 1.9% during the 1st quarter. Lesa Sroufe & Co now owns 346,870 shares of the oil and gas producer's stock worth $1,668,000 after purchasing an additional 6,480 shares during the last quarter. Hedge funds and other institutional investors own 10.42% of the company's stock.

About San Juan Basin Royalty Trust

San Juan Basin Royalty Trust is a publicly traded grantor trust that holds royalty interests in oil and natural gas properties located in the San Juan Basin of northwestern New Mexico. The trust does not operate wells or provide energy services directly; instead, it receives proceeds from the production of hydrocarbons from its underlying interests.

The trust's assets consist primarily of interests in producing and potentially producing oil and natural gas properties. Revenue is derived from the sale of production, after applicable production costs and other deductions.

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