San Juan Basin Royalty Trust (NYSE:SJT) Stock Breaks Above Two Hundred Day Moving Average – Should You Sell?

San Juan Basin Royalty Trust (NYSE:SJT)’s stock price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $3.58 and traded as high as $3.75. San Juan Basin Royalty Trust shares last traded at $3.6970, with a volume of 311,107 shares changing hands.

Analyst Upgrades and Downgrades

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 analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

San Juan Basin Royalty Trust Stock Performance

The stock has a market cap of $175.95 million, a PE ratio of -378.50 and a beta of 0.70. The company’s 50-day moving average price is $2.90 and its 200 day moving average price is $3.57.

Hedge Funds Weigh In On San Juan Basin Royalty Trust

A number of hedge funds have recently modified their holdings of the business. Punch & Associates Investment Management Inc. lifted its position in San Juan Basin Royalty Trust by 34.2% in the first 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 last quarter. State of Wyoming raised its stake in shares of San Juan Basin Royalty Trust by 73.9% in 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 raised its stake in shares of 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 period. SevenBridge Financial Group LLC acquired a new position in shares of San Juan Basin Royalty Trust in the 1st quarter worth approximately $45,000. Finally, Welch Group LLC boosted 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 purchasing an additional 8,000 shares during the period. 10.42% of the stock is currently owned by hedge funds and other institutional investors.

San Juan Basin Royalty Trust Company Profile

San Juan Basin Royalty Trust is a publicly traded grantor trust that holds royalty interests in oil and natural gas properties located in the San Juan Basin of northwestern New Mexico. The trust does not operate wells or provide energy services directly; instead, it receives proceeds from the production of hydrocarbons from its underlying interests.

The trust’s assets consist primarily of interests in producing and potentially producing oil and natural gas properties. Revenue is derived from the sale of production, after applicable production costs and other deductions.