San Juan Basin Royalty Trust (NYSE:SJT) was the target of a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 82,600 shares, a decline of 18.5% from the March 31st total of 101,300 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average trading volume of 137,500 shares, the days-to-cover ratio is presently 0.6 days.
SJT stock traded down $0.04 during midday trading on Tuesday, hitting $5.04. 165,396 shares of the company’s stock were exchanged, compared to its average volume of 141,321. San Juan Basin Royalty Trust has a 12-month low of $2.16 and a 12-month high of $5.12. The stock has a market capitalization of $234.91 million, a price-to-earnings ratio of 45.82 and a beta of 0.48. The firm has a 50 day moving average price of $4.27 and a 200-day moving average price of $3.65.
The company also recently disclosed a monthly dividend, which will be paid on Friday, May 14th. Investors of record on Friday, April 30th will be issued a $0.0262 dividend. This represents a $0.31 annualized dividend and a yield of 6.23%. The ex-dividend date is Thursday, April 29th.
Hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN boosted its holdings in shares of San Juan Basin Royalty Trust by 3.9% in the 4th quarter. Wells Fargo & Company MN now owns 265,963 shares of the oil and gas producer’s stock valued at $710,000 after buying an additional 9,959 shares during the period. Wealthsource Partners LLC increased its position in San Juan Basin Royalty Trust by 1.3% in the fourth quarter. Wealthsource Partners LLC now owns 401,749 shares of the oil and gas producer’s stock worth $1,073,000 after buying an additional 5,249 shares during the period. Finally, Virtu Financial LLC bought a new position in shares of San Juan Basin Royalty Trust during the fourth quarter worth about $74,000. Institutional investors and hedge funds own 14.76% of the company’s stock.
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 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 825.9 net wells.
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