Sabine Royalty Trust (NYSE:SBR) Hits New 52-Week High - Here's Why

Key Points

• Sabine Royalty Trust reached a new 52-week high of $70.25 during trading, up 3.6% from its previous close.
• The company reported $1.24 earnings per share (EPS) with a net margin of 95.36%, indicating strong financial performance.
• Sabine Royalty Trust increased its dividend to $0.3459, reflecting a substantial yield of 633.0%, despite a high payout ratio of 167.54%.

Sabine Royalty Trust (NYSE:SBR - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $70.25 and last traded at $70.25, with a volume of 38363 shares trading hands. The stock had previously closed at $68.05.

Sabine Royalty Trust Trading Up 0.9%

The firm has a market capitalization of $1.03 billion, a P/E ratio of 14.00 and a beta of 0.27. The firm has a 50 day moving average price of $66.56 and a 200-day moving average price of $66.23.

Sabine Royalty Trust (NYSE:SBR - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The energy company reported $1.22 earnings per share (EPS) for the quarter. The firm had revenue of $18.70 million during the quarter. Sabine Royalty Trust had a return on equity of 825.32% and a net margin of 94.85%.

Sabine Royalty Trust Increases Dividend

The business also recently declared a dividend, which was paid on Tuesday, July 29th. Stockholders of record on Wednesday, July 16th were issued a $0.3459 dividend. The ex-dividend date was Tuesday, July 15th. This represents a dividend yield of 633.0%. This is a boost from Sabine Royalty Trust's previous dividend of $0.14. Sabine Royalty Trust's dividend payout ratio (DPR) is 82.34%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Cetera Investment Advisers increased its holdings in shares of Sabine Royalty Trust by 7.7% in the 2nd quarter. Cetera Investment Advisers now owns 5,926 shares of the energy company's stock valued at $395,000 after acquiring an additional 425 shares during the period. Americana Partners LLC purchased a new position in Sabine Royalty Trust during the 2nd quarter worth $2,469,000. Prospera Financial Services Inc grew its stake in Sabine Royalty Trust by 4.9% during the 2nd quarter. Prospera Financial Services Inc now owns 31,059 shares of the energy company's stock worth $2,071,000 after buying an additional 1,462 shares during the last quarter. Quaker Wealth Management LLC grew its stake in Sabine Royalty Trust by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 1,000 shares of the energy company's stock worth $66,000 after buying an additional 2,000 shares during the last quarter. Finally, Carnegie Investment Counsel grew its stake in Sabine Royalty Trust by 2.8% during the 2nd quarter. Carnegie Investment Counsel now owns 7,507 shares of the energy company's stock worth $501,000 after buying an additional 207 shares during 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 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.