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

San Juan Basin Royalty Trust (NYSE:SJT)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.89 and traded as high as $3.90. San Juan Basin Royalty Trust shares last traded at $3.78, with a volume of 339,063 shares.

San Juan Basin Royalty Trust Stock Down 1.3 %

The firm’s fifty day moving average price is $4.04 and its 200-day moving average price is $3.89. The stock has a market cap of $176.19 million, a P/E ratio of 14.00 and a beta of 0.83.

Hedge Funds Weigh In On San Juan Basin Royalty Trust

A number of hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC increased its stake in shares of San Juan Basin Royalty Trust by 270.0% during the third quarter. International Assets Investment Management LLC now owns 7,400 shares of the oil and gas producer’s stock valued at $27,000 after buying an additional 5,400 shares during the period. Prospera Private Wealth LLC purchased a new position in San Juan Basin Royalty Trust during the 3rd quarter valued at about $34,000. Americana Partners LLC bought a new stake in shares of San Juan Basin Royalty Trust in the 3rd quarter worth approximately $40,000. GSA Capital Partners LLP purchased a new stake in shares of San Juan Basin Royalty Trust in the third quarter worth $41,000. Finally, Atlas Wealth Partners LLC purchased a new stake in San Juan Basin Royalty Trust during the 3rd quarter valued at about $63,000. Hedge funds and other institutional investors own 10.42% of the company’s stock.

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.