Sabine Royalty Trust (NYSE:SBR) Reaches New 12-Month High - Should You Buy?

Key Points

• Sabine Royalty Trust's stock reached a new 12-month high of $77.50 during trading, closing slightly lower at $77.29 with a trading volume of 17,658 shares.
• The company recently announced a dividend of $0.5841 per share, scheduled for distribution on September 29, with a high dividend yield of 913.0% despite a payout ratio of 138.89%.
• Institutional investors hold 15.81% of Sabine Royalty Trust's stock, with several firms, including Beacon Pointe Advisors, increasing their positions in the second quarter.

Sabine Royalty Trust (NYSE:SBR - Get Free Report)'s share price hit a new 52-week high on Thursday . The stock traded as high as $77.50 and last traded at $77.29, with a volume of 17658 shares changing hands. The stock had previously closed at $77.03.

Sabine Royalty Trust Stock Up 1.5%

The firm has a 50 day moving average price of $71.26 and a two-hundred day moving average price of $67.71. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 15.22 and a beta of 0.28.

Sabine Royalty Trust (NYSE:SBR - Get Free Report) last announced its earnings results on Friday, August 8th. The energy company reported $1.22 earnings per share for the quarter. The company had revenue of $18.70 million during the quarter. Sabine Royalty Trust had a return on equity of 866.81% and a net margin of 94.85%.

Sabine Royalty Trust Cuts Dividend

The firm also recently announced a sep 25 dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.5841 per share. The ex-dividend date is Monday, September 15th. This represents a dividend yield of 913.0%. Sabine Royalty Trust's dividend payout ratio (DPR) is currently 139.09%.

Institutional Trading of Sabine Royalty Trust

Large investors have recently modified their holdings of the business. GAMMA Investing LLC grew its stake in shares of Sabine Royalty Trust by 6,666.7% during the first quarter. GAMMA Investing LLC now owns 406 shares of the energy company's stock valued at $27,000 after acquiring an additional 400 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Sabine Royalty Trust by 79.2% during the second quarter. BNP Paribas Financial Markets now owns 708 shares of the energy company's stock worth $47,000 after purchasing an additional 313 shares during the last quarter. Quaker Wealth Management LLC lifted its position in shares of Sabine Royalty Trust by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 1,000 shares of the energy company's stock worth $66,000 after purchasing an additional 2,000 shares during the last quarter. Virtus Investment Advisers LLC lifted its position in shares of Sabine Royalty Trust by 7.2% during the second quarter. Virtus Investment Advisers LLC now owns 2,593 shares of the energy company's stock worth $173,000 after purchasing an additional 175 shares during the last quarter. Finally, Atria Wealth Solutions Inc. bought a new position in shares of Sabine Royalty Trust during the second quarter worth about $205,000. 15.81% of the stock is currently owned by institutional investors and hedge funds.

About Sabine Royalty Trust

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.