Sabine Royalty Trust (NYSE:SBR) Issues Quarterly Earnings Results

Key Points

• Sabine Royalty Trust reported quarterly earnings of $1.43 per share, with a 94.73% net margin and 959.48% return on equity.
• The trust increased its monthly dividend to $0.6194 per share, up from $0.43, representing a 10.2% yield; its payout ratio is 109.81%.
• SBR shares rose to $72.58, while analysts maintained a consensus “Hold” rating. Institutional investors own approximately 15.81% of the stock.

Sabine Royalty Trust (NYSE:SBR - Get Free Report) posted its quarterly earnings data on Friday. The energy company reported $1.43 earnings per share for the quarter, Zacks reports. Sabine Royalty Trust had a net margin of 94.73% and a return on equity of 959.48%.

Sabine Royalty Trust Stock Performance

Shares of SBR stock traded up $1.85 during trading on Friday, hitting $72.58. 61,442 shares of the company were exchanged, compared to its average volume of 39,229. The business's 50-day simple moving average is $73.73 and its 200 day simple moving average is $73.64. Sabine Royalty Trust has a twelve month low of $65.31 and a twelve month high of $84.39. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 15.48 and a beta of 0.21.

Sabine Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be issued a dividend of $0.6194 per share. This is an increase from Sabine Royalty Trust's previous monthly dividend of $0.43. This represents a c) annualized dividend and a dividend yield of 10.2%. The ex-dividend date is Monday, August 17th. Sabine Royalty Trust's dividend payout ratio is 109.81%.

Institutional Investors Weigh In On Sabine Royalty Trust

A number of institutional investors have recently modified their holdings of SBR. BNP Paribas Financial Markets increased its stake in shares of Sabine Royalty Trust by 79.2% in the second quarter. BNP Paribas Financial Markets now owns 708 shares of the energy company's stock worth $47,000 after acquiring an additional 313 shares during the last quarter. Garton & Associates Financial Advisors LLC purchased a new position in Sabine Royalty Trust in the fourth quarter valued at about $67,000. NewEdge Advisors LLC increased its position in Sabine Royalty Trust by 92.6% in the 3rd quarter. NewEdge Advisors LLC now owns 1,040 shares of the energy company's stock worth $83,000 after purchasing an additional 500 shares during the last quarter. Royal Bank of Canada increased its position in Sabine Royalty Trust by 8.2% in the 4th quarter. Royal Bank of Canada now owns 2,289 shares of the energy company's stock worth $157,000 after purchasing an additional 174 shares during the last quarter. Finally, Titleist Asset Management LLC purchased a new stake in shares of Sabine Royalty Trust during the 4th quarter worth about $285,000. Institutional investors and hedge funds own 15.81% of the company's stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Sabine Royalty Trust in a research report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of "Hold".

Sabine Royalty Trust Company Profile

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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