Sabine Royalty Trust (NYSE:SBR) Stock Crosses Above 50 Day Moving Average - What's Next?

Key Points

• Sabine Royalty Trust shares crossed above their 50-day moving average, reaching $73.60 before last trading at $72.75. The stock’s 50-day average is $72.87, compared with a 200-day average of $73.90.
• Weiss Ratings upgraded the trust from “hold (c)” to “buy (b-)”, while the overall analyst consensus remains “Buy.” Sabine reported quarterly EPS of $1.43 on $21.79 million in revenue.
• The trust increased its monthly dividend to $0.6194 per share, up from $0.43, implying an annualized yield of about 10.2%. Its payout ratio stands at 151.63%, and institutional investors own 15.81% of the shares.

Shares of Sabine Royalty Trust (NYSE:SBR - Get Free Report) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $72.87 and traded as high as $73.60. Sabine Royalty Trust shares last traded at $72.75, with a volume of 29,392 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Sabine Royalty Trust from a "hold (c)" rating to a "buy (b-)" rating in a research note on Friday, August 14th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy".

Sabine Royalty Trust Price Performance

The firm's 50 day moving average price is $72.87 and its two-hundred day moving average price is $73.90. The stock has a market cap of $1.06 billion, a PE ratio of 14.85 and a beta of 0.21.

Sabine Royalty Trust (NYSE:SBR - Get Free Report) last released its quarterly earnings data on Friday, August 7th. The energy company reported $1.43 EPS for the quarter. Sabine Royalty Trust had a net margin of 94.90% and a return on equity of 961.80%. The company had revenue of $21.79 million during the quarter.

Sabine Royalty Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be issued a dividend of $0.6194 per share. This represents a c) dividend on an annualized basis and a yield of 10.2%. The ex-dividend date of this dividend is Monday, August 17th. This is a boost from Sabine Royalty Trust's previous monthly dividend of $0.43. Sabine Royalty Trust's payout ratio is presently 151.63%.

Institutional Trading of Sabine Royalty Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Lazard Asset Management LLC grew its position in shares of Sabine Royalty Trust by 9.8% during the 1st quarter. Lazard Asset Management LLC now owns 17,289 shares of the energy company's stock valued at $1,303,000 after purchasing an additional 1,542 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Sabine Royalty Trust during the 1st quarter valued at about $774,000. State of Wyoming increased its position in shares of Sabine Royalty Trust by 117.1% in the first quarter. State of Wyoming now owns 5,807 shares of the energy company's stock worth $437,000 after purchasing an additional 3,132 shares during the last quarter. Cetera Investment Advisers lifted its position in Sabine Royalty Trust by 3.9% during the first quarter. Cetera Investment Advisers now owns 6,757 shares of the energy company's stock valued at $509,000 after purchasing an additional 254 shares during the last quarter. Finally, Independent Financial Group LLC bought a new position in shares of Sabine Royalty Trust in the 1st quarter worth $765,000. Institutional investors own 15.81% of the company's stock.

About Sabine Royalty Trust

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.

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