Sabine Royalty Trust (NYSE:SBR) Share Price Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Sabine Royalty Trust shares rose above their 200-day moving average during Tuesday’s session, hitting as high as $74.55 before last trading around $74.38.
• The trust recently declared a monthly dividend of $0.4292 per share, payable July 29 to shareholders of record on July 15, implying a 6.9% yield.
• Analysts remain cautious: Weiss Ratings reiterated a “hold”, and MarketBeat says the stock’s overall consensus rating is also “Hold.”

Shares of Sabine Royalty Trust (NYSE:SBR - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $73.09 and traded as high as $74.55. Sabine Royalty Trust shares last traded at $74.3790, with a volume of 48,444 shares.

Analyst Upgrades and Downgrades

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

Sabine Royalty Trust Price Performance

The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 15.86 and a beta of 0.21. The business's 50 day simple moving average is $74.99 and its 200 day simple moving average is $73.09.

Sabine Royalty Trust Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, July 29th. Investors of record on Wednesday, July 15th will be issued a dividend of $0.4292 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 6.9%. Sabine Royalty Trust's dividend payout ratio (DPR) is currently 109.81%.

Institutional Trading of Sabine Royalty Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in SBR. Americana Partners LLC lifted its position in Sabine Royalty Trust by 2.1% during the 4th quarter. Americana Partners LLC now owns 269,933 shares of the energy company's stock worth $18,509,000 after acquiring an additional 5,529 shares during the period. Prospera Financial Services Inc increased its holdings in shares of Sabine Royalty Trust by 173.9% in the fourth quarter. Prospera Financial Services Inc now owns 158,609 shares of the energy company's stock valued at $10,876,000 after purchasing an additional 100,691 shares during the period. Beacon Pointe Advisors LLC raised its stake in shares of Sabine Royalty Trust by 0.9% during the fourth quarter. Beacon Pointe Advisors LLC now owns 86,389 shares of the energy company's stock worth $5,924,000 after purchasing an additional 805 shares during the last quarter. Two Sigma Investments LP raised its stake in shares of Sabine Royalty Trust by 31.0% during the third quarter. Two Sigma Investments LP now owns 73,515 shares of the energy company's stock worth $5,842,000 after purchasing an additional 17,385 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Sabine Royalty Trust by 40.5% during the third quarter. Bank of America Corp DE now owns 40,023 shares of the energy company's stock worth $3,180,000 after purchasing an additional 11,527 shares during the last quarter. 15.81% of the stock is owned by hedge funds and other institutional investors.

About Sabine Royalty Trust

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.