Short Interest in San Juan Basin Royalty Trust (NYSE:SJT) Drops By 14.2%

San Juan Basin Royalty Trust (NYSE:SJT) saw a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 661,100 shares, a decline of 14.2% from the March 31st total of 770,700 shares. Based on an average daily volume of 319,300 shares, the short-interest ratio is currently 2.1 days. Currently, 1.5% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Significant Wealth Partners LLC acquired a new position in San Juan Basin Royalty Trust in the 4th quarter valued at about $2,964,000. Pingora Partners LLC purchased a new stake in San Juan Basin Royalty Trust in the fourth quarter valued at approximately $1,449,000. Beck Bode LLC lifted its stake in San Juan Basin Royalty Trust by 44.5% in the fourth quarter. Beck Bode LLC now owns 424,118 shares of the oil and gas producer’s stock valued at $2,150,000 after buying an additional 130,651 shares during the last quarter. Ingalls & Snyder LLC lifted its stake in San Juan Basin Royalty Trust by 303.9% in the fourth quarter. Ingalls & Snyder LLC now owns 66,650 shares of the oil and gas producer’s stock valued at $339,000 after buying an additional 50,150 shares during the last quarter. Finally, Aristides Capital LLC acquired a new position in shares of San Juan Basin Royalty Trust in the fourth quarter valued at approximately $149,000. Hedge funds and other institutional investors own 10.42% of the company’s stock.

San Juan Basin Royalty Trust Stock Performance

SJT stock opened at $4.28 on Monday. San Juan Basin Royalty Trust has a one year low of $4.01 and a one year high of $8.65. The firm has a market cap of $199.49 million, a price-to-earnings ratio of 3.89 and a beta of 0.77. The firm has a 50-day simple moving average of $5.21 and a two-hundred day simple moving average of $5.74.

San Juan Basin Royalty Trust (NYSE:SJT) last issued its quarterly earnings results on Monday, April 1st. The oil and gas producer reported $0.08 earnings per share for the quarter. The company had revenue of $4.01 million for the quarter. San Juan Basin Royalty Trust had a net margin of 96.72% and a return on equity of 1,842.90%.

San Juan Basin Royalty Trust Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.0229 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.27 dividend on an annualized basis and a dividend yield of 6.41%. San Juan Basin Royalty Trust’s dividend payout ratio (DPR) is 24.55%.

Analysts Set New Price Targets

Separately, TheStreet cut shares of San Juan Basin Royalty Trust from a “b-” rating to a “c+” rating in a research report on Monday, February 12th.

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.