San Juan Basin Royalty Trust (NYSE:SJT) Declares Dividend Increase – $0.09 Per Share

San Juan Basin Royalty Trust (NYSE:SJTGet Rating) announced a monthly dividend on Friday, May 20th, Zacks reports. Shareholders of record on Tuesday, May 31st will be paid a dividend of 0.092 per share by the oil and gas producer on Tuesday, June 14th. This represents a $1.10 annualized dividend and a yield of 9.17%. The ex-dividend date is Friday, May 27th. This is a boost from San Juan Basin Royalty Trust’s previous monthly dividend of $0.08.

San Juan Basin Royalty Trust has increased its dividend by an average of 26.0% per year over the last three years.

Shares of SJT stock opened at $12.04 on Friday. The business has a 50-day moving average price of $9.54 and a two-hundred day moving average price of $7.68. San Juan Basin Royalty Trust has a 12-month low of $3.75 and a 12-month high of $12.39.

Separately, StockNews.com started coverage on San Juan Basin Royalty Trust in a research note on Thursday, March 31st. They set a “hold” rating for the company.

Hedge funds have recently modified their holdings of the business. Morgan Stanley lifted its stake in shares of San Juan Basin Royalty Trust by 146.9% in the 3rd quarter. Morgan Stanley now owns 422,822 shares of the oil and gas producer’s stock valued at $2,139,000 after acquiring an additional 251,562 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of San Juan Basin Royalty Trust by 56,762.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 252,471 shares of the oil and gas producer’s stock valued at $2,214,000 after acquiring an additional 252,027 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of San Juan Basin Royalty Trust by 10.0% in the 4th quarter. Wells Fargo & Company MN now owns 160,237 shares of the oil and gas producer’s stock valued at $976,000 after acquiring an additional 14,517 shares during the last quarter. Two Sigma Investments LP bought a new stake in shares of San Juan Basin Royalty Trust in the 3rd quarter valued at about $340,000. Finally, CWA Asset Management Group LLC lifted its stake in shares of San Juan Basin Royalty Trust by 21.0% in the 4th quarter. CWA Asset Management Group LLC now owns 49,777 shares of the oil and gas producer’s stock valued at $303,000 after acquiring an additional 8,645 shares during the last quarter.

San Juan Basin Royalty Trust Company Profile (Get Rating)

San Juan Basin Royalty Trust operates as an express trust in Texas. The company has a 75% net overriding royalty interest carved out of Southland's oil and natural gas interests (the Subject Interests) in properties located in the San Juan Basin in northwestern New Mexico. The 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, as well as 1,140.0 net wells.

See Also

Dividend History for San Juan Basin Royalty Trust (NYSE:SJT)

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