Sabine Royalty Trust (NYSE:SBR) Sets New 52-Week Low - Here's Why

Key Points

• Sabine Royalty Trust hit a new 52-week low, trading as low as $65.06 and last at $65.47, below its 50-day and 200-day moving averages.
• Weiss Ratings lowered its rating from “buy (b)” to “buy (b-),” while the stock’s overall consensus rating remains “Buy,” based on one analyst rating.
• The trust reported quarterly earnings of $1.31 per share and raised its monthly dividend to $0.3554, equivalent to an annualized yield of about 6.5%.

Shares of Sabine Royalty Trust (NYSE:SBR - Get Free Report) reached a new 52-week low on Friday. The company traded as low as $65.06 and last traded at $65.4730, with a volume of 43,442 shares trading hands. The stock had previously closed at $65.86.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Sabine Royalty Trust from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. One analyst has rated the stock with a Buy rating. According to MarketBeat.com, the company has a consensus rating of "Buy".

Sabine Royalty Trust Price Performance

The firm has a market cap of $954.60 million, a PE ratio of 13.36 and a beta of 0.30. The company has a 50-day simple moving average of $72.48 and a 200-day simple moving average of $73.34.

Sabine Royalty Trust (NYSE:SBR - Get Free Report) last issued its quarterly earnings results on Friday, November 6th. The energy company reported $1.31 earnings per share for the quarter. Sabine Royalty Trust had a return on equity of 961.80% and a net margin of 94.90%.

Sabine Royalty Trust Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Thursday, October 29th. Shareholders of record on Thursday, October 15th were paid a $0.3554 dividend. The ex-dividend date was Thursday, October 15th. This is a positive change from Sabine Royalty Trust's previous monthly dividend of $0.3317. This represents a $4.27 dividend on an annualized basis and a yield of 6.5%. Sabine Royalty Trust's payout ratio is 87.14%.

Institutional Trading of Sabine Royalty Trust

A number of large investors have recently made changes to their positions in SBR. Ashton Thomas Private Wealth LLC boosted its position in Sabine Royalty Trust by 11.7% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 84,383 shares of the energy company's stock valued at $5,835,000 after buying an additional 8,805 shares during the period. Capital Analysts LLC grew its stake in Sabine Royalty Trust by 1.2% in the 2nd quarter. Capital Analysts LLC now owns 31,020 shares of the energy company's stock worth $2,270,000 after acquiring an additional 380 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of Sabine Royalty Trust by 9.8% during the first quarter. Lazard Asset Management LLC now owns 17,289 shares of the energy company's stock worth $1,303,000 after acquiring an additional 1,542 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of Sabine Royalty Trust during the first quarter worth approximately $774,000. Finally, Independent Financial Group LLC bought a new stake in shares of Sabine Royalty Trust during the first quarter valued at approximately $765,000. 15.81% of the stock is owned by hedge funds and other institutional investors.

About Sabine Royalty Trust

Sabine Royalty Trust is a grantor trust formed in 1982 to own and administer royalty and mineral interests in oil and natural gas properties. The trust does not explore for, develop, or operate wells; instead, it receives royalty payments and other proceeds generated from production on properties in which it holds interests.

Its interests are located primarily across several U.S. states, including Florida, Louisiana, Mississippi, New Mexico, Oklahoma, and Texas. Revenue generally depends on the volume of oil and natural gas produced from the underlying properties, commodity prices, and the operating activity of the companies that develop and manage those properties.

Sabine Royalty Trust is listed on the New York Stock Exchange under the symbol SBR.

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