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

Bank of America Corp DE trimmed its position in Sabine Royalty Trust (NYSE:SBR - Free Report) by 29.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor 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.

Other hedge funds have also bought and sold shares of the company. Blue Trust Inc. lifted its holdings in Sabine Royalty Trust by 15.4% during the 4th quarter. Blue Trust Inc. now owns 28,842 shares of the energy company's stock worth $1,869,000 after buying an additional 3,850 shares during the last quarter. Concurrent Investment Advisors LLC raised its position in shares of Sabine Royalty Trust by 2.2% during the 4th quarter. Concurrent Investment Advisors LLC now owns 28,211 shares of the energy company's stock valued at $1,828,000 after acquiring an additional 597 shares in the last quarter. BankPlus Trust Department bought a new position in Sabine Royalty Trust during the fourth quarter worth $91,000. Raymond James Financial Inc. acquired a new position in Sabine Royalty Trust in the fourth quarter worth $1,920,000. Finally, PNC Financial Services Group Inc. increased its stake in Sabine Royalty Trust by 153.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,324 shares of the energy company's stock valued at $215,000 after purchasing an additional 2,010 shares during the last quarter. 15.81% of the stock is currently owned by institutional investors and hedge funds.

Sabine Royalty Trust Trading Up 0.4%

NYSE SBR traded up $0.24 during trading hours on Friday, reaching $67.05. The company's stock had a trading volume of 15,996 shares, compared to its average volume of 38,100. The business has a 50-day simple moving average of $65.40 and a 200 day simple moving average of $65.60. Sabine Royalty Trust has a 52 week low of $58.25 and a 52 week high of $70.20. The stock has a market cap of $977.45 million, a PE ratio of 10.33 and a beta of 0.29.

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

Sabine Royalty Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid a dividend of $0.4478 per share. The ex-dividend date was Thursday, May 15th. This represents a $5.37 dividend on an annualized basis and a yield of 8.01%. Sabine Royalty Trust's payout ratio is currently 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 report on Monday, February 10th.

Sabine Royalty Trust 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.