Sabine Royalty Trust (NYSE:SBR - Get Free Report)'s share price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $73.14 and traded as high as $76.45. Sabine Royalty Trust shares last traded at $75.46, with a volume of 23,436 shares changing hands.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings raised shares of Sabine Royalty Trust from a "hold (c)" rating to a "buy (b-)" rating in a research note on Friday, August 14th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Sabine Royalty Trust has an average rating of "Buy".
Get Our Latest Analysis on Sabine Royalty Trust
Sabine Royalty Trust Price Performance
The business has a 50 day simple moving average of $73.14 and a 200 day simple moving average of $74.08. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 15.40 and a beta of 0.22.
Sabine Royalty Trust (NYSE:SBR - Get Free Report) last released its earnings results on Friday, August 7th. The energy company reported $1.43 earnings per share for the quarter. The company had revenue of $21.79 million during 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 business also recently announced a monthly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 17th were issued a $0.6194 dividend. This represents a c) dividend on an annualized basis and a yield of 9.9%. This is a boost from Sabine Royalty Trust's previous monthly dividend of $0.43. The ex-dividend date was Monday, August 17th. Sabine Royalty Trust's dividend payout ratio (DPR) is 151.63%.
Hedge Funds Weigh In On Sabine Royalty Trust
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its holdings in Sabine Royalty Trust by 79.2% in the second quarter. BNP Paribas Financial Markets now owns 708 shares of the energy company's stock valued at $47,000 after acquiring an additional 313 shares in the last quarter. SHP Wealth Management purchased a new position in Sabine Royalty Trust in the fourth quarter worth approximately $56,000. Fifth Third Bancorp grew its holdings in Sabine Royalty Trust by 25.3% during the 4th quarter. Fifth Third Bancorp now owns 826 shares of the energy company's stock worth $57,000 after acquiring an additional 167 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Sabine Royalty Trust by 3,831.8% during the 4th quarter. Farther Finance Advisors LLC now owns 865 shares of the energy company's stock worth $59,000 after acquiring an additional 843 shares in the last quarter. Finally, Garton & Associates Financial Advisors LLC purchased a new stake in shares of Sabine Royalty Trust in the 4th quarter valued at approximately $67,000. 15.81% of the stock is owned by institutional investors and hedge funds.
About Sabine Royalty Trust
(
Get Free Report)
Sabine Royalty Trust is a Delaware statutory trust that owns a non-operating royalty interest in a portfolio of oil and gas properties. Rather than engaging in exploration or production activities directly, the trust receives a share of net proceeds from hydrocarbon production on the underlying properties and distributes those proceeds to unitholders on a monthly basis.
The trust was established in 1982 through a transaction with Sabine Oil & Gas Corporation, which transferred its overriding royalty interests in numerous wells and acreage to the trust.
Further Reading
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