Sabine Royalty Trust (NYSE:SBR) Share Price Passes Below 200 Day Moving Average - Here's Why

Key Points

• Sabine's stock recently crossed below its 200-day moving average, with the 200-day MA at $72.45 and an intraday low of $71.20 (shares last traded around $73.75 on 42,704 volume).
• The trust paid a monthly dividend of $0.2834 on Feb. 27, which annualizes to a yield of about 4.6% and reflects a payout ratio of roughly 62.6%.
• Analysts hold a consensus “Hold” rating (Weiss Ratings restated Hold), while the company has a market cap of $1.08 billion, a P/E of 13.58, and institutional ownership of about 15.8%.

Sabine Royalty Trust (NYSE:SBR - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $72.45 and traded as low as $71.20. Sabine Royalty Trust shares last traded at $73.75, with a volume of 42,704 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Sabine Royalty Trust in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Sabine Royalty Trust has a consensus rating of "Hold".

Sabine Royalty Trust Trading Up 2.8%

The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 13.58 and a beta of 0.28. The stock has a 50-day simple moving average of $69.75 and a 200 day simple moving average of $72.45.

Sabine Royalty Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th were paid a $0.2834 dividend. This represents a c) annualized dividend and a yield of 4.6%. The ex-dividend date was Tuesday, February 17th. Sabine Royalty Trust's dividend payout ratio is currently 62.62%.

Institutional Investors Weigh In On Sabine Royalty Trust

A number of institutional investors have recently modified their holdings of the stock. Americana Partners LLC raised its holdings in shares of Sabine Royalty Trust by 2.1% during the fourth 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 in the last quarter. Beacon Pointe Advisors LLC increased its position in Sabine Royalty Trust by 1.3% in the 2nd quarter. Beacon Pointe Advisors LLC now owns 195,894 shares of the energy company's stock worth $13,017,000 after purchasing an additional 2,443 shares during the last quarter. Prospera Financial Services Inc raised its stake in shares of Sabine Royalty Trust by 173.9% during the 4th quarter. Prospera Financial Services Inc now owns 158,609 shares of the energy company's stock worth $10,876,000 after purchasing an additional 100,691 shares in the last quarter. Two Sigma Investments LP lifted its holdings in shares of Sabine Royalty Trust by 31.0% during the 3rd quarter. Two Sigma Investments LP now owns 73,515 shares of the energy company's stock valued at $5,842,000 after buying an additional 17,385 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Sabine Royalty Trust by 40.5% during the 3rd quarter. Bank of America Corp DE now owns 40,023 shares of the energy company's stock valued at $3,180,000 after buying an additional 11,527 shares during the last quarter. Institutional investors and hedge funds own 15.81% of the company's stock.

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.

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