Sabine Royalty Trust (NYSE:SBR) Plans Dividend Increase - $0.62 Per Share

Key Points

• Sabine Royalty Trust plans to raise its monthly dividend 44.3% to $0.6194 per share, payable August 31 to shareholders of record on August 17. The annualized yield is approximately 10.2%.
• SBR reported quarterly earnings of $1.43 per share, with a 94.73% net margin and 959.48% return on equity.
• The stock recently traded at $72.58, with a market capitalization of about $1.06 billion; hedge funds and other institutions own 15.81% of outstanding shares.

Sabine Royalty Trust (NYSE:SBR - Get Free Report) announced a monthly dividend on Friday, August 7th. Investors of record on Monday, August 17th will be given a dividend of 0.6194 per share by the energy company on Monday, August 31st. 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 44.3% increase from Sabine Royalty Trust's previous monthly dividend of $0.43.

Sabine Royalty Trust has increased its dividend payment by an average of 0.2%per year over the last three years.

Sabine Royalty Trust Stock Performance

SBR stock traded up $1.85 during trading on Friday, reaching $72.58. 61,442 shares of the company were exchanged, compared to its average volume of 39,229. The stock's 50 day moving average price is $73.73 and its 200 day moving average price is $73.64. Sabine Royalty Trust has a 52-week low of $65.31 and a 52-week high of $84.39. The company has a market cap of $1.06 billion, a P/E ratio of 15.48 and a beta of 0.21.

Sabine Royalty Trust (NYSE:SBR - Get Free Report) last issued its earnings results on Friday, August 7th. The energy company reported $1.43 earnings per share (EPS) for the quarter. Sabine Royalty Trust had a net margin of 94.73% and a return on equity of 959.48%.

Hedge Funds Weigh In On Sabine Royalty Trust

Several hedge funds have recently added to or reduced their stakes in SBR. WealthCollab LLC lifted its holdings in shares of Sabine Royalty Trust by 124.1% in the fourth quarter. WealthCollab LLC now owns 437 shares of the energy company's stock valued at $30,000 after purchasing an additional 242 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Sabine Royalty Trust by 79.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 708 shares of the energy company's stock worth $47,000 after purchasing an additional 313 shares in the last quarter. SHP Wealth Management acquired a new position in shares of Sabine Royalty Trust during the 4th quarter worth approximately $56,000. Fifth Third Bancorp raised its position in shares of 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 purchasing an additional 167 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Sabine Royalty Trust by 3,831.8% in the 4th quarter. Farther Finance Advisors LLC now owns 865 shares of the energy company's stock valued at $59,000 after buying an additional 843 shares in the last quarter. 15.81% of the stock is currently owned by hedge funds and other institutional investors.

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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