San Juan Basin Royalty Trust (NYSE:SJT) Stock Breaks Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• San Juan Basin Royalty Trust shares crossed above their 200-day moving average, reaching $3.82 before last trading at $3.7990, compared with a 200-day average of $3.53.
• Analyst sentiment remains negative: Weiss Ratings downgraded the trust from “sell (d)” to “sell (e+),” and the stock has an average “Sell” rating from the one analyst covering it.
• Institutional investors increased their holdings during the first quarter, but institutions collectively own only 10.42% of the stock; the trust’s market capitalization is approximately $177.1 million.

Shares of San Juan Basin Royalty Trust (NYSE:SJT - Get Free Report) crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $3.53 and traded as high as $3.82. San Juan Basin Royalty Trust shares last traded at $3.7990, with a volume of 228,739 shares.

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 investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of "Sell".

San Juan Basin Royalty Trust Stock Down 0.3%

The firm has a market capitalization of $177.07 million, a price-to-earnings ratio of -379.90 and a beta of 0.70. The company's fifty day moving average is $3.03 and its two-hundred day moving average is $3.53.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SJT. Punch & Associates Investment Management Inc. grew its stake in shares of San Juan Basin Royalty Trust by 34.2% during 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 purchasing an additional 239,225 shares during the period. State of Wyoming boosted its holdings in San Juan Basin Royalty Trust by 73.9% during the first quarter. State of Wyoming now owns 36,596 shares of the oil and gas producer's stock worth $176,000 after buying an additional 15,552 shares during the last quarter. Lesa Sroufe & Co boosted its holdings in San Juan Basin Royalty Trust by 1.9% during the first quarter. Lesa Sroufe & Co now owns 346,870 shares of the oil and gas producer's stock worth $1,668,000 after buying an additional 6,480 shares during the last quarter. SevenBridge Financial Group LLC acquired a new position in shares of San Juan Basin Royalty Trust during the 1st quarter worth about $45,000. Finally, 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 worth $144,000 after buying an additional 8,000 shares during the period. 10.42% of the stock is currently owned by institutional investors.

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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