San Juan Basin Royalty Trust (NYSE:SJT) Shares Cross Above 200-Day Moving Average – Here’s What Happened

San Juan Basin Royalty Trust (NYSE:SJT)’s share price passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $3.92 and traded as high as $4.31. San Juan Basin Royalty Trust shares last traded at $4.2650, with a volume of 660,201 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered 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 MarketBeat.com, the stock currently has an average rating of “Sell”.

San Juan Basin Royalty Trust Price Performance

The firm’s 50 day moving average price is $3.45 and its 200-day moving average price is $3.92. The stock has a market cap of $198.79 million, a P/E ratio of -426.50 and a beta of 0.55.

Hedge Funds Weigh In On San Juan Basin Royalty Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Private Advisor Group LLC purchased a new stake in San Juan Basin Royalty Trust during the 3rd quarter valued at $48,000. EagleClaw Capital Managment LLC purchased a new position in shares of San Juan Basin Royalty Trust in the third quarter worth $63,000. Atlas Wealth Partners LLC lifted its holdings in shares of San Juan Basin Royalty Trust by 7.7% during the third quarter. Atlas Wealth Partners LLC now owns 43,206 shares of the oil and gas producer’s stock valued at $158,000 after purchasing an additional 3,100 shares in the last quarter. State of Wyoming lifted its holdings in shares of 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 valued at $176,000 after purchasing an additional 15,552 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new stake in shares of San Juan Basin Royalty Trust during the third quarter valued at $284,000. 10.42% of the stock is owned by institutional investors.

San Juan Basin Royalty Trust Company Profile

San Juan Basin Royalty Trust 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 operate wells, develop properties or sell energy products directly; instead, it receives royalty payments from production generated by the underlying properties. The trust’s interests were originally conveyed by Southland Royalty Company, and the properties are operated by third-party energy companies. Revenues are derived primarily from the sale of crude oil, natural gas and related production, with proceeds distributed to the trust’s unitholders after applicable production costs, taxes and administrative expenses.