San Juan Basin Royalty Trust (NYSE:SJT) Shares Sold by Essex Financial Services Inc.

Essex Financial Services Inc. decreased its holdings in San Juan Basin Royalty Trust (NYSE:SJT) by 74.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,107 shares of the oil and gas producer’s stock after selling 36,190 shares during the quarter. Essex Financial Services Inc.’s holdings in San Juan Basin Royalty Trust were worth $90,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Creative Planning lifted its position in San Juan Basin Royalty Trust by 47.8% during the 2nd quarter. Creative Planning now owns 78,878 shares of the oil and gas producer’s stock worth $586,000 after acquiring an additional 25,527 shares during the last quarter. Raymond James & Associates lifted its position in San Juan Basin Royalty Trust by 9.4% during the 2nd quarter. Raymond James & Associates now owns 16,000 shares of the oil and gas producer’s stock worth $119,000 after acquiring an additional 1,375 shares during the last quarter. Alpine Woods Capital Investors LLC acquired a new position in San Juan Basin Royalty Trust during the 1st quarter worth $450,000. Bramshill Investments LLC lifted its position in San Juan Basin Royalty Trust by 2.1% during the 1st quarter. Bramshill Investments LLC now owns 157,103 shares of the oil and gas producer’s stock worth $1,653,000 after acquiring an additional 3,255 shares during the last quarter. Finally, PFG Investments LLC acquired a new position in San Juan Basin Royalty Trust during the 1st quarter worth $109,000. Institutional investors and hedge funds own 13.56% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of San Juan Basin Royalty Trust in a report on Thursday, October 5th. They set a “hold” rating on the stock.

San Juan Basin Royalty Trust Stock Performance

NYSE:SJT opened at $7.31 on Tuesday. San Juan Basin Royalty Trust has a 52-week low of $6.45 and a 52-week high of $12.25. The firm’s 50-day moving average is $7.11 and its 200-day moving average is $7.43.

San Juan Basin Royalty Trust (NYSE:SJT) last posted its quarterly earnings data on Monday, August 14th. The oil and gas producer reported $0.17 earnings per share for the quarter. San Juan Basin Royalty Trust had a net margin of 98.39% and a return on equity of 3,192.73%. The company had revenue of $8.58 million during the quarter.

San Juan Basin Royalty Trust Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st will be paid a dividend of $0.049 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.59 annualized dividend and a dividend yield of 8.04%.

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 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, as well as 825.6 net wells.