San Juan Basin Royalty Trust (NYSE:SJT) Stock Crosses Above 200 Day Moving Average – Here’s Why

Shares of San Juan Basin Royalty Trust (NYSE:SJT) passed 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 traded.

Wall Street Analysts Forecast Growth

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 investment analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company presently has an average rating of “Sell”.

San Juan Basin Royalty Trust Stock Performance

The company has a market capitalization of $199.68 million, a P/E ratio of -428.40 and a beta of 0.70. The business’s fifty day simple moving average is $3.24 and its 200-day simple moving average is $3.50.

Institutional Investors Weigh In On San Juan Basin Royalty Trust

Large investors have recently added to or reduced their stakes in the stock. SevenBridge Financial Group LLC bought a new position in San Juan Basin Royalty Trust during the first quarter valued at $45,000. Welch Group LLC lifted its stake 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 acquiring an additional 8,000 shares during the last quarter. State of Wyoming boosted its holdings in 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. Lesa Sroufe & Co grew its position in San Juan Basin Royalty Trust by 1.9% in 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 acquiring an additional 6,480 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. lifted its position 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 last quarter. 10.42% of the stock is 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.