San Juan Basin Royalty Trust (NYSE:SJT) Trading 5.1% Higher

San Juan Basin Royalty Trust (NYSE:SJT) traded up 5.1% on Wednesday . The stock traded as high as $3.46 and last traded at $3.28, 236,552 shares traded hands during trading. An increase of 69% from the average session volume of 139,746 shares. The stock had previously closed at $3.12.

Separately, TheStreet lowered San Juan Basin Royalty Trust from a “b-” rating to a “c+” rating in a research report on Thursday, May 2nd.

The company’s 50-day moving average is $3.60.

San Juan Basin Royalty Trust (NYSE:SJT) last released its quarterly earnings results on Friday, May 10th. The oil and gas producer reported $0.13 earnings per share for the quarter. San Juan Basin Royalty Trust had a return on equity of 299.92% and a net margin of 91.70%. The company had revenue of $6.56 million for the quarter.

A number of institutional investors have recently added to or reduced their stakes in SJT. Lesa Sroufe & Co boosted its stake in shares of San Juan Basin Royalty Trust by 28.3% in the second quarter. Lesa Sroufe & Co now owns 15,725 shares of the oil and gas producer’s stock worth $60,000 after acquiring an additional 3,465 shares during the period. Mariner Investment Group LLC bought a new position in San Juan Basin Royalty Trust during the first quarter valued at approximately $78,000. Advisory Services Network LLC boosted its stake in San Juan Basin Royalty Trust by 20.5% during the fourth quarter. Advisory Services Network LLC now owns 47,031 shares of the oil and gas producer’s stock valued at $226,000 after buying an additional 7,998 shares during the last quarter. Finally, Royce & Associates LP boosted its stake in San Juan Basin Royalty Trust by 0.8% during the first quarter. Royce & Associates LP now owns 782,927 shares of the oil and gas producer’s stock valued at $4,204,000 after buying an additional 6,177 shares during the last quarter. 18.59% of the stock is currently owned by institutional investors and hedge funds.

About San Juan Basin Royalty Trust (NYSE:SJT)

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 828.1 net wells.

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