San Juan Basin Royalty Trust (NYSE:SJT) Major Shareholder Buys 259,605 Shares of Company Stock

San Juan Basin Royalty Trust (NYSE:SJT) major shareholder Eric Oliver purchased 259,605 shares of the stock in a transaction on Tuesday, November 10th. The stock was acquired at an average price of $4.14 per share, with a total value of $1,074,764.70. Following the acquisition, the insider directly owned 4,942,794 shares in the company, valued at $20,463,167.16. This trade represents a 5.54% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

San Juan Basin Royalty Trust Trading Up 5.9%

NYSE:SJT opened at $4.47 on Thursday. The firm’s fifty day simple moving average is $3.48 and its 200 day simple moving average is $3.91. The firm has a market capitalization of $208.35 million, a price-to-earnings ratio of -447.00 and a beta of 0.55. San Juan Basin Royalty Trust has a twelve month low of $2.37 and a twelve month high of $6.55.

Hedge Funds Weigh In On San Juan Basin Royalty Trust

Several hedge funds have recently modified their holdings of SJT. Atlas Wealth Partners LLC raised its stake in shares of San Juan Basin Royalty Trust by 7.7% in the 3rd quarter. Atlas Wealth Partners LLC now owns 43,206 shares of the oil and gas producer’s stock worth $158,000 after buying an additional 3,100 shares in the last quarter. Lesa Sroufe & Co boosted its stake in San Juan Basin Royalty Trust by 1.9% during the third quarter. Lesa Sroufe & Co now owns 592,321 shares of the oil and gas producer’s stock valued at $2,162,000 after buying an additional 11,057 shares in the last quarter. Private Advisor Group LLC acquired a new position in San Juan Basin Royalty Trust during the third quarter worth about $48,000. State of Wyoming grew its holdings in 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 worth $176,000 after acquiring an additional 15,552 shares during the period. Finally, EagleClaw Capital Managment LLC acquired a new position in San Juan Basin Royalty Trust during the third quarter worth about $63,000. 10.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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 data from MarketBeat, San Juan Basin Royalty Trust presently has an average rating of “Sell”.

About San Juan Basin Royalty Trust

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.