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

Shares of San Juan Basin Royalty Trust (NYSE:SJT) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $5.82 and traded as high as $6.09. San Juan Basin Royalty Trust shares last traded at $6.0630, with a volume of 113,048 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of San Juan Basin Royalty Trust in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

San Juan Basin Royalty Trust Trading Up 3.3%

The company’s fifty day simple moving average is $5.71 and its 200-day simple moving average is $5.82.

Institutional Investors Weigh In On San Juan Basin Royalty Trust

Several institutional investors have recently bought and sold shares of SJT. Horizon Kinetics Asset Management LLC raised its holdings in shares of San Juan Basin Royalty Trust by 86.0% during the second quarter. Horizon Kinetics Asset Management LLC now owns 4,594,502 shares of the oil and gas producer’s stock valued at $27,475,000 after acquiring an additional 2,124,370 shares during the last quarter. Punch & Associates Investment Management Inc. acquired a new stake in shares of San Juan Basin Royalty Trust in the third quarter worth approximately $2,680,000. Moors & Cabot Inc. increased its position in shares of San Juan Basin Royalty Trust by 115.1% during the third quarter. Moors & Cabot Inc. now owns 607,450 shares of the oil and gas producer’s stock worth $3,669,000 after purchasing an additional 325,100 shares in the last quarter. Kingswood Wealth Advisors LLC raised its stake in San Juan Basin Royalty Trust by 74.1% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 485,815 shares of the oil and gas producer’s stock valued at $2,900,000 after purchasing an additional 206,780 shares during the last quarter. Finally, Advisory Services Network LLC raised its stake in San Juan Basin Royalty Trust by 392.2% in the 2nd quarter. Advisory Services Network LLC now owns 237,397 shares of the oil and gas producer’s stock valued at $1,436,000 after purchasing an additional 189,170 shares during the last quarter. 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 (NYSE: SJT) is a statutory trust that holds overriding royalty interests in oil and natural gas properties located in the San Juan Basin of New Mexico and Colorado. As a passive royalty trust, it does not operate any wells or fields directly. Instead, the trust receives revenue from the sale of hydrocarbons produced on its acreage, then distributes this income to unitholders on a monthly basis.

The trust’s income is derived primarily from natural gas production, along with associated natural gas liquids and a smaller volume of crude oil.