Short Interest in San Juan Basin Royalty Trust (NYSE:SJT) Drops By 15.1%

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San Juan Basin Royalty Trust (NYSE:SJT) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 645,400 shares, a decline of 15.1% from the July 31st total of 760,000 shares. Approximately 1.5% of the shares of the company are sold short. Based on an average daily trading volume, of 141,400 shares, the days-to-cover ratio is presently 4.6 days.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Royce & Associates LP increased its position 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 worth $4,204,000 after buying an additional 6,177 shares during the last quarter. Wells Fargo & Company MN increased its position in San Juan Basin Royalty Trust by 2.1% during the second quarter. Wells Fargo & Company MN now owns 253,319 shares of the oil and gas producer’s stock worth $971,000 after buying an additional 5,168 shares during the last quarter. Wealthsource Partners LLC increased its position in San Juan Basin Royalty Trust by 8.5% during the second quarter. Wealthsource Partners LLC now owns 205,924 shares of the oil and gas producer’s stock worth $789,000 after buying an additional 16,154 shares during the last quarter. Lesa Sroufe & Co increased its position in San Juan Basin Royalty Trust by 28.3% during the second quarter. Lesa Sroufe & Co now owns 15,725 shares of the oil and gas producer’s stock worth $60,000 after buying an additional 3,465 shares during the last quarter. Finally, Mariner Investment Group LLC acquired a new position in San Juan Basin Royalty Trust during the first quarter worth approximately $78,000. 17.87% of the stock is currently owned by hedge funds and other institutional investors.

NYSE SJT traded down $0.02 during trading on Friday, reaching $2.25. 107,168 shares of the company’s stock were exchanged, compared to its average volume of 142,615. The business has a 50 day moving average price of $2.68 and a 200-day moving average price of $4.04. San Juan Basin Royalty Trust has a fifty-two week low of $2.18 and a fifty-two week high of $6.25.

San Juan Basin Royalty Trust (NYSE:SJT) last announced its quarterly earnings results on Friday, August 9th. The oil and gas producer reported $0.04 earnings per share for the quarter. The firm had revenue of $2.42 million for the quarter. San Juan Basin Royalty Trust had a return on equity of 297.94% and a net margin of 91.68%.

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 828.1 net wells.

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