San Juan Basin Royalty Trust (NYSE:SJT) Share Price Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• San Juan Basin Royalty Trust shares rose above their 200-day moving average, reaching $4.42 before last trading at $4.2840, compared with a 200-day average of $3.50.
• Weiss Ratings downgraded the trust from “sell (d)” to “sell (e+).” The stock has an average analyst rating of “Sell”, with one analyst covering it.
• Institutional investors and hedge funds increased their holdings during the first quarter, but they collectively own only 10.42% of the company’s stock.

San Juan Basin Royalty Trust (NYSE:SJT - Get Free Report) shares crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $3.50 and traded as high as $4.42. San Juan Basin Royalty Trust shares last traded at $4.2840, with a volume of 318,632 shares changing hands.

Analyst Ratings Changes

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

San Juan Basin Royalty Trust Stock Down 0.1%

The stock has a market capitalization of $199.68 million, a price-to-earnings ratio of -428.40 and a beta of 0.70. The company has a 50 day moving average of $3.24 and a 200 day moving average of $3.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. SevenBridge Financial Group LLC purchased a new position in shares of San Juan Basin Royalty Trust during the 1st quarter worth about $45,000. Welch Group LLC boosted its holdings in shares of San Juan Basin Royalty Trust by 36.4% in the 1st quarter. Welch Group LLC now owns 30,008 shares of the oil and gas producer's stock valued at $144,000 after purchasing an additional 8,000 shares during the last quarter. State of Wyoming grew its stake 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 buying an additional 15,552 shares during the period. Lesa Sroufe & Co grew 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 valued at $1,668,000 after buying an additional 6,480 shares during the period. Finally, Punch & Associates Investment Management Inc. grew its stake in shares of 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 valued at $4,518,000 after buying an additional 239,225 shares during the period. Institutional investors and hedge funds own 10.42% of the company's stock.

About San Juan Basin Royalty Trust

San Juan Basin Royalty Trust NYSE: SJT 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 explore for, develop, or directly produce hydrocarbons. Instead, it receives income based on production from the underlying properties after the deduction of specified production, administrative, and other expenses.

The trust was established in 1980 in connection with the transfer of interests in San Juan Basin oil and gas properties.

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