Home Trending Stocks Could This Be Driving The SJT Stock Higher Today?

Could This Be Driving The SJT Stock Higher Today?

On the last check Tuesday, San Juan Basin Royalty Trust (NYSE: SJT) has gained 9.45% at $4.75 in the current market. SJT shares have ranged in price between $4.46 and $4.83. SJT stock moved 0.49 million shares so far this session, which was above its average number of shares traded per day of 0.11 million in the past 100 days.

Over the last five days, SJT stock has gained 3.09%, while it has gained 12.73% over the last month. On the news of declaring a monthly cash distribution, the SJT stock has been gaining.

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Cash distribution:

The San Juan Basin Royalty Trust operates as an express trust in Texas. The SJT owns 75% of Southland’s net overriding interest in the San Juan Basin properties in northwestern New Mexico.

As Trustee of the San Juan Basin Royalty Trust, BBVA USA has today notified the SJT Unit holders of its monthly cash distribution.

  • Based on estimated production during the month of February 2021, the Unit Holders will receive $4,464,842.99 or $0.095794 per Unit.
  • That is subject to certain adjustments by Hilcorp San Juan L.P. (Hilcorp), which owns the SJT’s subject interests.
  • The distribution will be paid to Unit Holders as of April 30, 2021, on May 14, 2021.
  • Hilcorp informs the SJT that gas production for the subject interests in February 2021 was 2,401,460 Mcf, while it was 2,631,464 Mcf in January 2021.
  • Based on the production volume divided by revenues, an average gas price of $4.67/Mcf is determined for February 2021, which is higher than the average gas price of $2.36/Mcf for January 2021.

Further,

Hilcorp informed the SJT that the February 2021 reporting month will be based on estimated production, estimated prices, and estimated costs due to Hilcorp’s transition to a new accounting system.

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