San Juan Basin Royalty Trust
Collects and distributes royalty income from San Juan Basin oil and gas properties.
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Profile
Receives a contractual share of net proceeds from oil and natural gas properties in New Mexico’s San Juan Basin, then distributes cash remaining after Trust expenses and reserves. The fixed-asset grantor trust cannot operate the properties or acquire replacements.
Converts a contractual royalty interest in oil and natural gas properties in northwestern New Mexico’s San Juan Basin into cash distributions for unit holders. The Trust itself neither explores for, produces, nor sells gas, oil, or condensate; Hilcorp operates most underlying properties.
Royalty income reflects the operator’s production proceeds after drilling, operating, processing, tax, and capital costs. Argent Trust Company pays Trust expenses and adds any necessary reserves before distributing a positive balance monthly.
The indenture bars business operations and new asset acquisitions, leaving a fixed, depleting asset base in one basin. Hilcorp controls development, production marketing, and most underlying data, while excess production costs must be recovered before royalty income resumes.
Company facts
Key statistics
Year to date −52.7% · Average volume (30d) 220.6K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 13, 2026Q2 FY26 | — | $0.00 | — | — | $184 | — | −1.42% |
| May 14, 2026Q1 FY26 | — | −$0.01 | — | — | $279 | — | +0.24% |
| Mar 27, 2026 | — | −$0.01 | — | — | $201 | — | −3.14% |
| Nov 13, 2025 | — | $0.00 | — | — | $385 | — | +0.94% |
Financial highlights
| 2 quarters | — | — | — | — | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | $201 | $184 | |
| Gross profit | — | — | — | — | $201 | $184 | |
| Operating income | — | — | — | — | −$362.7K | −$194.0K | |
| Net income | — | — | — | — | −$362.7K | −$194.0K | |
| Diluted EPS | — | — | — | — | −$0.01 | −$0.00 | |
| Gross margin | — | — | — | — | 100.0% | 100.0% | |
| Operating margin | — | — | — | — | -180,450.7% | -105,411.4% |
Balance sheet, Jun 30, 2026Cash & short-term investments $4.0K · Total debt $944.5K · Total assets $2.7M · Shareholders' equity $1.7M
Dividends
Last cut to $0.0229 from $0.0413 in Apr 2024.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Apr 29, 2024 | Apr 30 | May 14 | $0.0229 | cut from $0.0413 |
| Mar 27, 2024 | Mar 28 | Apr 12 | $0.0413 | raised from $0.0303 |
| Feb 28, 2024 | Feb 29 | Mar 14 | $0.0303 | raised from $0.0163 |
| Jan 30, 2024 | Jan 31 | Feb 14 | $0.0163 | raised from $0.0123 |
| Dec 28, 2023 | Dec 29 | Jan 16 | $0.0123 | cut from $0.0169 |
| Nov 29, 2023 | Nov 30 | Dec 14 | $0.0169 | cut from $0.0487 |
| Oct 30, 2023 | Oct 31 | Nov 14 | $0.0487 | cut from $0.0538 |
| Sep 28, 2023 | Sep 29 | Oct 16 | $0.0538 | raised from $0.0207 |
Ownership
Shares outstanding 46.61M · Float 39.11M · 83.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Horizon Kinetics Asset Management LLC | 6.98M | 15.00% | 13G | Apr 29, 2026 |
| Morgan Stanley | 1.62M | 3.47% | 13F | May 15, 2026 |
| Punch & Associates Investment Management, Inc. | 939.2K | 2.02% | 13F | May 15, 2026 |
| Cannell Capital LLC | 909.5K | 1.95% | 13F | May 15, 2026 |
| Ashton Thomas Private Wealth, LLC | 867.7K | 1.86% | 13F | May 11, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- Permian Basin Royalty Trust
Closest listed alternative for cost-sensitive oil-and-gas royalty income.
- Cross Timbers Royalty Trust
Listed net-profits and royalty units for U.S. oil-and-gas income exposure.
- Sabine Royalty Trust
Diversified listed oil-and-gas royalty units for income-focused investors.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| San Juan Basin Royalty Trust | $2.71 | −0.37% | $126.3M | — | — | 120,409.8 | −93.8% |
| Permian Basin Royalty Trust | $33.82 | −0.12% | $1.58B | 97.3 | — | 89.1 | +34.4% |
| Cross Timbers Royalty Trust | $10.42 | −0.71% | $62.5M | 19.7 | — | 14.6 | −14.8% |
| Sabine Royalty Trust | $74.85 | −0.22% | $1.09B | 15.3 | — | 14.5 | +16.7% |
| Median | 19.7 | — | 14.6 | +16.7% |