Sabine Royalty Trust (NYSE:SBR) Sets New 12-Month High - Here's Why

Key Points

• Sabine Royalty Trust (NYSE:SBR) shares reached a new 52-week high, trading at $77.00 during the latest session, with a previous close of $76.04.
• The company reported earnings of $1.22 EPS for the last quarter, with a remarkable return on equity of 866.81% and a net margin of 94.85%.
• Sabine Royalty Trust declared a dividend of $0.5841 per share to be paid on September 29, representing a significant yield of 942.0%.

Sabine Royalty Trust (NYSE:SBR - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $77.00 and last traded at $76.81, with a volume of 4331 shares trading hands. The stock had previously closed at $76.04.

Sabine Royalty Trust Stock Up 0.9%

The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 15.25 and a beta of 0.28. The business has a 50-day moving average of $69.98 and a 200-day moving average of $67.22.

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

Sabine Royalty Trust Cuts Dividend

The company also recently announced a sep 25 dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be given a dividend of $0.5841 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a yield of 915.0%. Sabine Royalty Trust's dividend payout ratio (DPR) is 138.89%.

Institutional Investors Weigh In On Sabine Royalty Trust

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in Sabine Royalty Trust by 6,666.7% during the first quarter. GAMMA Investing LLC now owns 406 shares of the energy company's stock worth $27,000 after buying an additional 400 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Sabine Royalty Trust by 79.2% during the second quarter. BNP Paribas Financial Markets now owns 708 shares of the energy company's stock valued at $47,000 after purchasing an additional 313 shares in the last quarter. Quaker Wealth Management LLC boosted its holdings in 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 valued at $66,000 after purchasing an additional 2,000 shares in the last quarter. Virtus Investment Advisers LLC boosted its holdings in 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 valued at $173,000 after purchasing an additional 175 shares in the last quarter. Finally, Atria Wealth Solutions Inc. acquired a new stake in Sabine Royalty Trust during the second quarter valued at approximately $205,000. 15.81% of the stock is 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.