Snowflake Score | |
---|---|
Valuation | 4/6 |
Future Growth | 0/6 |
Past Performance | 5/6 |
Financial Health | 6/6 |
Dividends | 2/6 |
SJT Stock Overview
San Juan Basin Royalty Trust operates as an express trust in Texas.
San Juan Basin Royalty Trust Competitors
Price History & Performance
Historical stock prices | |
---|---|
Current Share Price | US$8.57 |
52 Week High | US$14.70 |
52 Week Low | US$3.75 |
Beta | 0.59 |
1 Month Change | -37.45% |
3 Month Change | -3.82% |
1 Year Change | 73.83% |
3 Year Change | 138.72% |
5 Year Change | 30.64% |
Change since IPO | 5.48% |
Recent News & Updates
San Juan Basin Royalty Trust: Prospective ~15% Forward Yield Is Attractive
U.S. natural gas pulled back strongly after Freeport LNG blow-up. This also caused SJT's price to fall sharply. Distributions lag gas prices and immediate distributions will be high. In both the short and long term I expect U.S. export capacity to increase. Both my short-term and long-term expectations here are positive although high volatility will be par for the course. The most recently declared monthly distribution for the San Juan Basin Royalty Trust (SJT) amounted to $0.11 per share. That distribution is based on April volume and gas prices. April did not represent the 2022 high. Currently, Henry Hub remains above April levels after experiencing a steep drop-off. Given where gas prices are, that San Juan Basin Royalty Trust trades at $8.60, and the outlook for natural gas globally, I'm thinking it is quite an attractive security here. Data by YCharts Strong natural gas prices are at least partially explicable by Russia's invasion of Ukraine and the subsequent scramble by European countries to secure non-Russian gas supply. U.S. gas export has a ceiling because there are only so many liquefaction terminals. Liquefaction terminals, like those owned by Cheniere Energy (LNG), turn natural gas into a liquid. This makes it much more cost-effective to be transported by ship (to Asia or Europe). Data by YCharts In the short term, the rug got pulled out under U.S. natural gas prices because about 17% of U.S. liquefaction capacity got shut down because of an explosion at Freeport LNG. This facility has been shut down since June 8 and that's expected to last until Natural gas prices have fallen ~40% since Freeport LNG was shuttered June 8 due to an explosion, and the regulator's move points to further delays at the plant, which are expected to lead to lower prices since more of Freeport's fuel is now available for domestic consumption rather than for export to Europe. Freeport LNG accounts for ~17% of liquefied natural gas processing capacity in the U.S. and headlines suggested the facility is not expected to return before the end of the year. In this recent press release, Freeport provided some color (emphasis by me): The incident occurred in pipe racks that support the transfer of LNG from the facility's LNG storage tank area to the terminal's dock facilities located on the intracoastal (i.e., north) side of Freeport LNG's dock basin. None of the liquefaction trains, LNG storage tanks, dock facilities, or LNG process areas were impacted. In coordination with local, state and federal officials, Freeport LNG's investigation into the cause of the incident, and what steps are necessary to safely resume liquefaction operations, is underway. Preliminary observations suggest that the incident resulted from the overpressure and rupture of a segment of an LNG transfer line, leading to the rapid flashing of LNG and the release and ignition of the natural gas vapor cloud. Additional investigation is underway to determine the underlying precipitating events that enabled the overpressure conditions in the LNG piping. At this time, completion of all necessary repairs and a return to full plant operations is not expected until late 2022. Given the relatively contained area of the facility physically impacted by the incident, a resumption of partial operations is targeted to be achieved in approximately 90 days, once the safety and security of doing so can be assured, and all regulatory clearances are obtained. I'm not knowledgeable enough to venture an educated guess of what percentage of lost capacity can be brought back online in around 90 days. I do expect some capacity to be brought back online by that time, based on this press release. As this export capacity is ramped back up, which is a relatively short-term event, I'd expect the uptrend for U.S. natural gas to resume. Long term I don't see Europe's interest in U.S. gas slowing down much. It is a relatively clean fossil fuel. Europe is at the vanguard of the energy transition and is very interested in reducing carbon emissions across the entire E.U. Even a Russian withdrawal from Ukraine is not putting the cat back into the bag. Politicians have now experienced what it is like to be (partially) energy-dependent on Russia. A ceasefire may decrease the speed with which the block will decrease reliance on Russian imports. I fully expect the general trend will continue. Here's a recent history of recent monthly distributions: Month Declaration Date Record Date Payable Date Distribution per Unit Net Cash Total Distribution 10 calendar days prior to the record date Last business day of the month 10 business days after the record date January 1/21/2022 1/31/2022 2/14/2022 $0.103446 $4,821,486.55 February 2/17/2022 2/28/2022 3/14/2022 $0.085744 $3,996,441.96 March 3/21/2022 03/31/2022 04/14/2022 $0.119104 $5,551,298.95 April 4/19/2022 4/29/2022 5/13/2022 $0.082883 $3,863,096.64 May 5/20/2022 5/31/2022 6/14/2022 $0.091781 $4,277,812.64 June 6/17/2022 6/30/2022 7/15/2022 $0.111613 $5,202,132.35
Shareholder Returns
SJT | US Oil and Gas | US Market | |
---|---|---|---|
7D | -9.1% | -6.3% | 0.7% |
1Y | 73.8% | 27.3% | -18.4% |
Return vs Industry: SJT exceeded the US Oil and Gas industry which returned 27.3% over the past year.
Return vs Market: SJT exceeded the US Market which returned -18.4% over the past year.
Price Volatility
SJT volatility | |
---|---|
SJT Average Weekly Movement | 12.6% |
Oil and Gas Industry Average Movement | 9.1% |
Market Average Movement | 8.2% |
10% most volatile stocks in US Market | 16.9% |
10% least volatile stocks in US Market | 3.4% |
Stable Share Price: SJT is more volatile than 75% of US stocks over the past 3 months, typically moving +/- 13% a week.
Volatility Over Time: SJT's weekly volatility (13%) has been stable over the past year, but is still higher than 75% of US stocks.
About the Company
Founded | Employees | CEO | Website |
---|---|---|---|
1980 | n/a | n/a | https://www.sjbrt.com |
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 1,140.0 net wells.
San Juan Basin Royalty Trust Fundamentals Summary
SJT fundamental statistics | |
---|---|
Market Cap | US$400.84m |
Earnings (TTM) | US$42.59m |
Revenue (TTM) | US$44.30m |
9.4x
P/E Ratio9.0x
P/S RatioIs SJT overvalued?
See Fair Value and valuation analysisEarnings & Revenue
SJT income statement (TTM) | |
---|---|
Revenue | US$44.30m |
Cost of Revenue | US$0 |
Gross Profit | US$44.30m |
Other Expenses | US$1.71m |
Earnings | US$42.59m |
Last Reported Earnings
Mar 31, 2022
Next Earnings Date
n/a
Earnings per share (EPS) | 0.91 |
Gross Margin | 100.00% |
Net Profit Margin | 96.13% |
Debt/Equity Ratio | 0.0% |
How did SJT perform over the long term?
See historical performance and comparisonDividends
11.1%
Current Dividend Yield100%
Payout RatioValuation
Is SJT undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
4/6Valuation Score 4/6
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio
Key Valuation Metric
Which metric is best to use when looking at relative valuation for SJT?
Other financial metrics that can be useful for relative valuation.
What is SJT's n/a Ratio? | |
---|---|
n/a Ratio | 0x |
n/a | n/a |
Market Cap | US$400.84m |
Key Statistics | |
---|---|
Enterprise Value/Revenue | 8.9x |
Enterprise Value/EBITDA | n/a |
PEG Ratio | n/a |
Price to Earnings Ratio vs Peers
How does SJT's PE Ratio compare to its peers?
SJT PE Ratio vs Peers |
---|
Company | PE | Estimated Growth | Market Cap |
---|---|---|---|
Peer Average | 31.4x | ||
EGY VAALCO Energy | 4.3x | -70.7% | US$377.0m |
REPX Riley Exploration Permian | 52.1x | 113.9% | US$446.5m |
REI Ring Energy | 8.5x | 73.8% | US$273.2m |
KRP Kimbell Royalty Partners | 60.6x | 26.5% | US$996.4m |
SJT San Juan Basin Royalty Trust | 9.4x | n/a | US$400.8m |
Price-To-Earnings vs Peers: SJT is good value based on its Price-To-Earnings Ratio (9.4x) compared to the peer average (31.4x).
Price to Earnings Ratio vs Industry
How does SJT's PE Ratio compare vs other companies in the US Oil and Gas Industry?
Price-To-Earnings vs Industry: SJT is good value based on its Price-To-Earnings Ratio (9.4x) compared to the US Oil and Gas industry average (11.3x)
Price to Earnings Ratio vs Fair Ratio
What is SJT's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
Fair Ratio | |
---|---|
Current PE Ratio | 9.4x |
Fair PE Ratio | n/a |
Price-To-Earnings vs Fair Ratio: Insufficient data to calculate SJT's Price-To-Earnings Fair Ratio for valuation analysis.
Share Price vs Fair Value
What is the Fair Price of SJT when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: SJT ($8.57) is trading below our estimate of fair value ($14.73)
Significantly Below Fair Value: SJT is trading below fair value by more than 20%.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate SJT's PEG Ratio to determine if it is good value.
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Future Growth
How is San Juan Basin Royalty Trust forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
Future Growth Score
0/6Future Growth Score 0/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE
-8.0%
Forecasted Energy industry annual growth in earnings
In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as San Juan Basin Royalty Trust has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.
This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.
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- Examine whether San Juan Basin Royalty Trust is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
- San Juan Basin Royalty Trust competitive advantages and company strategy can generally be found in its financial reports archived here.
Past Performance
How has San Juan Basin Royalty Trust performed over the past 5 years?
Past Performance Score
5/6Past Performance Score 5/6
Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE
-9.3%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: SJT has high quality earnings.
Growing Profit Margin: SJT's current net profit margins (96.1%) are higher than last year (88%).
Past Earnings Growth Analysis
Earnings Trend: SJT's earnings have declined by 9.3% per year over the past 5 years.
Accelerating Growth: SJT's earnings growth over the past year (303.6%) exceeds its 5-year average (-9.3% per year).
Earnings vs Industry: SJT earnings growth over the past year (303.6%) exceeded the Oil and Gas industry 102.2%.
Return on Equity
High ROE: SJT's Return on Equity (1239.2%) is considered outstanding.
Discover strong past performing companies
Financial Health
How is San Juan Basin Royalty Trust's financial position?
Financial Health Score
6/6Financial Health Score 6/6
Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage
Financial Position Analysis
Short Term Liabilities: SJT's short term assets ($6.6M) exceed its short term liabilities ($5.6M).
Long Term Liabilities: SJT's short term assets ($6.6M) exceed its long term liabilities ($1,000.0K).
Debt to Equity History and Analysis
Debt Level: SJT is debt free.
Reducing Debt: SJT has not had any debt for past 5 years.
Debt Coverage: SJT has no debt, therefore it does not need to be covered by operating cash flow.
Interest Coverage: SJT has no debt, therefore coverage of interest payments is not a concern.
Balance Sheet
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Dividend
What is San Juan Basin Royalty Trust current dividend yield, its reliability and sustainability?
Dividend Score
2/6Dividend Score 2/6
Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage
11.11%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: SJT's dividend (11.11%) is higher than the bottom 25% of dividend payers in the US market (1.61%).
High Dividend: SJT's dividend (11.11%) is in the top 25% of dividend payers in the US market (4.27%)
Stability and Growth of Payments
Stable Dividend: SJT's dividend payments have been volatile in the past 10 years.
Growing Dividend: SJT's dividend payments have fallen over the past 10 years.
Earnings Payout to Shareholders
Earnings Coverage: With its high payout ratio (100%), SJT's dividend payments are not well covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: Insufficient data to calculate cash payout ratio to determine if its dividend payments are covered by cash flows.
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Management
How experienced are the management team and are they aligned to shareholders interests?
CEO
San Juan Basin Royalty Trust has no CEO, or we have no data on them.
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
San Juan Basin Royalty Trust's employee growth, exchange listings and data sources
Key Information
- Name: San Juan Basin Royalty Trust
- Ticker: SJT
- Exchange: NYSE
- Founded: 1980
- Industry: Oil and Gas Exploration and Production
- Sector: Energy
- Implied Market Cap: US$400.836m
- Shares outstanding: 46.61m
- Website: https://www.sjbrt.com
Location
- San Juan Basin Royalty Trust
- 2200 Post Oak Boulevard
- Floor 18
- Houston
- Texas
- 77056
- United States
Listings
Company Analysis and Financial Data Status
Data | Last Updated (UTC time) |
---|---|
Company Analysis | 2022/07/06 00:00 |
End of Day Share Price | 2022/07/06 00:00 |
Earnings | 2022/03/31 |
Annual Earnings | 2021/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.