StockNews.com Downgrades San Juan Basin Royalty Trust (NYSE:SJT) to Sell

StockNews.com cut shares of San Juan Basin Royalty Trust (NYSE:SJT) from a hold rating to a sell rating in a report released on Wednesday morning.

San Juan Basin Royalty Trust Stock Down 1.0 %

Shares of SJT stock opened at $4.01 on Wednesday. The firm has a 50 day moving average of $4.37 and a two-hundred day moving average of $5.01. The stock has a market capitalization of $186.90 million, a PE ratio of 9.55 and a beta of 0.82. San Juan Basin Royalty Trust has a 52 week low of $3.85 and a 52 week high of $8.59.

San Juan Basin Royalty Trust (NYSE:SJT) last released its earnings results on Tuesday, May 14th. The oil and gas producer reported $0.09 earnings per share (EPS) for the quarter. The firm had revenue of $5.11 million during the quarter. San Juan Basin Royalty Trust had a return on equity of 715.03% and a net margin of 89.64%.

San Juan Basin Royalty Trust Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th were issued a dividend of $0.0229 per share. This represents a $0.27 annualized dividend and a yield of 6.84%. The ex-dividend date of this dividend was Monday, April 29th. San Juan Basin Royalty Trust’s dividend payout ratio (DPR) is presently 64.29%.

Institutional Investors Weigh In On San Juan Basin Royalty Trust

Hedge funds and other institutional investors have recently modified their holdings of the company. Meixler Investment Management Ltd. increased its holdings in San Juan Basin Royalty Trust by 8.4% in the first quarter. Meixler Investment Management Ltd. now owns 30,800 shares of the oil and gas producer’s stock valued at $163,000 after buying an additional 2,395 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of San Juan Basin Royalty Trust in the 1st quarter valued at about $7,061,000. Hartline Investment Corp acquired a new stake in shares of San Juan Basin Royalty Trust during the 1st quarter worth about $84,000. Creekmur Asset Management LLC purchased a new stake in San Juan Basin Royalty Trust during the fourth quarter worth approximately $68,000. Finally, Virtu Financial LLC boosted its holdings in San Juan Basin Royalty Trust by 140.3% in the fourth quarter. Virtu Financial LLC now owns 45,960 shares of the oil and gas producer’s stock valued at $233,000 after purchasing an additional 26,836 shares in 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 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.