Moors & Cabot Inc. Sells 9,319 Shares of Sabine Royalty Trust (NYSE:SBR)

Key Points

• Moors & Cabot Inc. reduced its stake in Sabine Royalty Trust by 33.1%, selling 9,319 shares, now holding a total of 18,841 shares, valued at approximately $1.3 million.
• The dividend for Sabine Royalty Trust has increased significantly from $0.14 to $0.3459 per share, reflecting a remarkable dividend yield of 633.0%.
• Sabine Royalty Trust recently reported quarterly earnings with an impressive return on equity of 904.22% and a net margin of 95.36% on revenue of $19.4 million.

Moors & Cabot Inc. trimmed its stake in Sabine Royalty Trust (NYSE:SBR - Free Report) by 33.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,841 shares of the energy company's stock after selling 9,319 shares during the quarter. Moors & Cabot Inc. owned 0.13% of Sabine Royalty Trust worth $1,275,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SBR. Beacon Pointe Advisors LLC boosted its holdings in Sabine Royalty Trust by 289.7% in the fourth quarter. Beacon Pointe Advisors LLC now owns 188,111 shares of the energy company's stock worth $12,191,000 after acquiring an additional 139,836 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Sabine Royalty Trust in the fourth quarter worth $1,920,000. Rahlfs Capital LLC bought a new stake in Sabine Royalty Trust in the fourth quarter worth $770,000. Clare Market Investments LLC boosted its holdings in Sabine Royalty Trust by 19.3% in the first quarter. Clare Market Investments LLC now owns 27,793 shares of the energy company's stock worth $1,881,000 after acquiring an additional 4,500 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Sabine Royalty Trust in the first quarter worth $262,000. 15.81% of the stock is owned by institutional investors.

Sabine Royalty Trust Price Performance

Shares of NYSE:SBR opened at $65.98 on Friday. The company has a market cap of $961.92 million, a P/E ratio of 12.38 and a beta of 0.27. Sabine Royalty Trust has a 1 year low of $58.25 and a 1 year high of $70.20. The stock's fifty day moving average price is $66.31 and its 200-day moving average price is $66.14.

Sabine Royalty Trust (NYSE:SBR - Get Free Report) last announced its quarterly 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 for the quarter. Sabine Royalty Trust had a return on equity of 904.22% and a net margin of 95.36%.

Sabine Royalty Trust Increases Dividend

The firm also recently declared a dividend, which was paid on Tuesday, July 29th. Stockholders of record on Wednesday, July 16th were issued a dividend of $0.3459 per share. The ex-dividend date of this dividend was Tuesday, July 15th. This is an increase from Sabine Royalty Trust's previous dividend of $0.14. This represents a dividend yield of 633.0%. Sabine Royalty Trust's dividend payout ratio is currently 77.86%.

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.

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