Insider Buying: San Juan Basin Royalty Trust (NYSE:SJT) Major Shareholder Acquires 251,227 Shares of Company Stock

San Juan Basin Royalty Trust (NYSE:SJT) major shareholder Eric Oliver bought 251,227 shares of the firm’s stock in a transaction on Wednesday, November 11th. The stock was bought at an average cost of $4.43 per share, for a total transaction of $1,112,935.61. Following the transaction, the insider directly owned 5,194,021 shares of the company’s stock, valued at $23,009,513.03. The trade was a 5.08% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

San Juan Basin Royalty Trust Stock Down 8.6%

SJT stock traded down $0.38 during mid-day trading on Friday, hitting $3.96. 181,117 shares of the company were exchanged, compared to its average volume of 239,738. The firm has a market capitalization of $184.81 million, a P/E ratio of -396.50 and a beta of 0.55. The business has a fifty day simple moving average of $3.51 and a 200-day simple moving average of $3.90. San Juan Basin Royalty Trust has a 12-month low of $2.37 and a 12-month high of $6.55.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of San Juan Basin Royalty Trust from a “sell (d)” rating to a “sell (e+)” rating in a research report on Friday, August 21st. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Institutional Investors Weigh In On San Juan Basin Royalty Trust

Institutional investors and hedge funds have recently modified their holdings of the company. Mad River Investors acquired a new position in San Juan Basin Royalty Trust during the 3rd quarter worth about $2,181,000. Horizon Kinetics Asset Management LLC increased its stake in San Juan Basin Royalty Trust by 5.7% during the third quarter. Horizon Kinetics Asset Management LLC now owns 7,924,698 shares of the oil and gas producer’s stock worth $28,925,000 after purchasing an additional 430,678 shares during the period. Moors & Cabot Inc. increased its stake in San Juan Basin Royalty Trust by 39.9% during the third quarter. Moors & Cabot Inc. now owns 1,201,995 shares of the oil and gas producer’s stock worth $4,387,000 after purchasing an additional 342,805 shares during the period. Punch & Associates Investment Management Inc. increased its stake in San Juan Basin Royalty Trust by 34.2% during the first quarter. Punch & Associates Investment Management Inc. now owns 939,225 shares of the oil and gas producer’s stock worth $4,518,000 after purchasing an additional 239,225 shares during the period. Finally, State of Wyoming acquired a new stake in shares of San Juan Basin Royalty Trust during the third quarter worth about $531,000. 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 is a passive royalty trust that holds interests in oil and natural gas properties in the San Juan Basin of northwestern New Mexico. Its assets are concentrated in producing properties, with natural gas representing a significant part of the underlying production. The trust does not explore for or produce oil and gas itself. Instead, it receives proceeds attributable to its royalty interests, pays trust expenses and distributes available funds to its unitholders. Established in 1980, the trust’s activities are focused on its interests in the San Juan Basin rather than on operating a diversified business or serving customers directly.