Sabine Royalty Trust (NYSE:SBR) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lessened its holdings in shares of Sabine Royalty Trust (NYSE:SBR - Free Report) by 29.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,163 shares of the energy company's stock after selling 9,858 shares during the period. Bank of America Corp DE owned 0.16% of Sabine Royalty Trust worth $1,501,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Beacon Pointe Advisors LLC grew its position in shares of Sabine Royalty Trust by 289.7% during the 4th quarter. Beacon Pointe Advisors LLC now owns 188,111 shares of the energy company's stock valued at $12,191,000 after buying an additional 139,836 shares during the last quarter. Horizon Kinetics Asset Management LLC grew its position in shares of Sabine Royalty Trust by 9.5% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 109,921 shares of the energy company's stock valued at $7,124,000 after buying an additional 9,553 shares during the last quarter. TrueMark Investments LLC grew its position in shares of Sabine Royalty Trust by 547.0% during the 4th quarter. TrueMark Investments LLC now owns 88,303 shares of the energy company's stock valued at $5,723,000 after buying an additional 74,655 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Sabine Royalty Trust during the 4th quarter valued at about $1,920,000. Finally, Blue Trust Inc. grew its position in shares of Sabine Royalty Trust by 15.4% during the 4th quarter. Blue Trust Inc. now owns 28,842 shares of the energy company's stock valued at $1,869,000 after buying an additional 3,850 shares during the last quarter. Institutional investors own 15.81% of the company's stock.

Sabine Royalty Trust Trading Up 0.4%

Sabine Royalty Trust stock traded up $0.24 during midday trading on Friday, reaching $67.05. 15,996 shares of the stock traded hands, compared to its average volume of 38,104. The firm has a fifty day moving average price of $65.36 and a two-hundred day moving average price of $65.68. The firm has a market cap of $977.45 million, a price-to-earnings ratio of 10.33 and a beta of 0.29. Sabine Royalty Trust has a fifty-two week low of $58.25 and a fifty-two week high of $70.20.

Sabine Royalty Trust (NYSE:SBR - Get Free Report) last posted its earnings results on Friday, May 9th. The energy company reported $1.24 earnings per share (EPS) for the quarter. The firm had revenue of $19.40 million during the quarter. Sabine Royalty Trust had a net margin of 96.72% and a return on equity of 1,088.44%.

Sabine Royalty Trust Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were paid a dividend of $0.4478 per share. This represents a $5.37 dividend on an annualized basis and a yield of 8.01%. The ex-dividend date of this dividend was Thursday, May 15th. Sabine Royalty Trust's payout ratio is 100.75%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Sabine Royalty Trust from a "hold" rating to a "buy" rating in a research report on Monday, February 10th.

Sabine Royalty Trust Company Profile

Sabine Royalty Trust holds royalty and mineral interests in various producing oil and gas properties in the United States. Its royalty and mineral interests include landowner's royalties, overriding royalty interests, minerals, production payments, and other similar non-participatory interest in certain producing and proved undeveloped oil and gas properties located in Florida, Louisiana, Mississippi, New Mexico, Oklahoma, and Texas.