San Juan Basin Royalty Trust (NYSE:SJT) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Shares of San Juan Basin Royalty Trust (NYSE:SJT) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $3.92 and traded as high as $3.99. San Juan Basin Royalty Trust shares last traded at $3.94, with a volume of 250,479 shares changing hands.

San Juan Basin Royalty Trust Stock Performance

The firm has a market cap of $183.50 million, a price-to-earnings ratio of 14.58 and a beta of 0.86. The firm’s 50 day moving average is $4.14 and its 200-day moving average is $3.92.

Institutional Investors Weigh In On San Juan Basin Royalty Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in SJT. Moors & Cabot Inc. raised its position in shares of San Juan Basin Royalty Trust by 75.3% in the fourth quarter. Moors & Cabot Inc. now owns 206,750 shares of the oil and gas producer’s stock valued at $792,000 after purchasing an additional 88,800 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in San Juan Basin Royalty Trust in the 4th quarter worth $2,686,000. Raymond James Financial Inc. acquired a new position in San Juan Basin Royalty Trust during the 4th quarter worth $783,000. Oxbow Advisors LLC bought a new stake in San Juan Basin Royalty Trust during the fourth quarter valued at about $43,000. Finally, Private Advisor Group LLC acquired a new stake in shares of San Juan Basin Royalty Trust in the fourth quarter valued at about $102,000. 10.42% of the stock is currently owned by institutional investors and hedge funds.

About San Juan Basin Royalty Trust

San Juan Basin Royalty Trust operates as an express trust in Texas. The company has a 75% net overriding royalty interest in Southland’s oil and natural gas interests in properties located in the San Juan Basin in northwestern New Mexico. It also owns subject interests consist of working interests, royalty interests, overriding royalty interests, and other contractual rights in 119,000 net-producing acres in San Juan, Rio Arriba, and Sandoval Counties of northwestern New Mexico.