San Juan Basin Royalty Trust (NYSE:SJT) Stock Price Crosses Above 200-Day Moving Average – Time to Sell?

San Juan Basin Royalty Trust (NYSE:SJT) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-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.

Wall Street Analysts Forecast Growth

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

San Juan Basin Royalty Trust Stock Performance

The stock has a 50-day moving average of $5.71 and a 200 day moving average of $5.82.

Institutional Investors Weigh In On San Juan Basin Royalty Trust

Hedge funds have recently modified their holdings of the company. Horizon Kinetics Asset Management LLC raised its stake in 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 worth $27,475,000 after purchasing an additional 2,124,370 shares during the period. Ashton Thomas Private Wealth LLC increased its holdings in shares of San Juan Basin Royalty Trust by 0.3% during the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 641,226 shares of the oil and gas producer’s stock worth $3,835,000 after buying an additional 1,983 shares during the last quarter. Moors & Cabot Inc. raised its position in shares of San Juan Basin Royalty Trust by 115.1% during the 3rd quarter. Moors & Cabot Inc. now owns 607,450 shares of the oil and gas producer’s stock valued at $3,669,000 after buying an additional 325,100 shares during the period. Kingswood Wealth Advisors LLC raised its position in shares of San Juan Basin Royalty Trust by 1.3% during the 3rd quarter. Kingswood Wealth Advisors LLC now owns 491,900 shares of the oil and gas producer’s stock valued at $2,971,000 after buying an additional 6,085 shares during the period. Finally, Punch & Associates Investment Management Inc. acquired a new position in San Juan Basin Royalty Trust in the third quarter valued at approximately $2,680,000. Hedge funds and other institutional investors own 10.42% of the company’s stock.

San Juan Basin Royalty Trust Company Profile

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.