Sabine Royalty Trust (NYSE:SBR) Share Price Passes Below 200-Day Moving Average - Time to Sell?

Key Points

• Sabine Royalty Trust shares fell below their 200-day moving average, trading as low as $72.49 versus the average of $73.79. The stock closed near $72.91, while its sole analyst rating remained “Hold.”
• The trust reported quarterly revenue of $21.79 million and earnings of $1.43 per share, with a 94.9% net margin. Institutional investors own approximately 15.8% of the stock.
• Sabine increased its monthly dividend to $0.6194 per share, implying an annualized yield of about 10.2%; however, its payout ratio is elevated at 105.1%.

Sabine Royalty Trust (NYSE:SBR - Get Free Report)'s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $73.79 and traded as low as $72.49. Sabine Royalty Trust shares last traded at $72.9140, with a volume of 24,837 shares.

Analyst Upgrades and Downgrades

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

Sabine Royalty Trust Trading Up 0.2%

The firm has a market capitalization of $1.06 billion, a PE ratio of 14.88 and a beta of 0.21. The firm has a 50 day simple moving average of $73.24 and a 200 day simple moving average of $73.79.

Sabine Royalty Trust (NYSE:SBR - Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The energy company reported $1.43 earnings per share for the quarter. Sabine Royalty Trust had a return on equity of 961.80% and a net margin of 94.90%.The firm had revenue of $21.79 million during the quarter.

Sabine Royalty Trust Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be given a $0.6194 dividend. This is a positive change from Sabine Royalty Trust's previous monthly dividend of $0.43. The ex-dividend date of this dividend is Monday, August 17th. This represents a c) dividend on an annualized basis and a yield of 10.2%. Sabine Royalty Trust's payout ratio is presently 105.10%.

Hedge Funds Weigh In On Sabine Royalty Trust

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC bought a new stake in shares of Sabine Royalty Trust in the first quarter worth approximately $772,000. Cetera Investment Advisers lifted its position in Sabine Royalty Trust by 7.7% during the second quarter. Cetera Investment Advisers now owns 5,926 shares of the energy company's stock valued at $395,000 after purchasing an additional 425 shares during the period. Marshall Wace LLP bought a new position in Sabine Royalty Trust during the second quarter valued at approximately $1,545,000. Peapack Gladstone Financial Corp boosted its holdings in Sabine Royalty Trust by 8.8% in the second quarter. Peapack Gladstone Financial Corp now owns 22,283 shares of the energy company's stock worth $1,486,000 after purchasing an additional 1,806 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in Sabine Royalty Trust by 11.9% in the second quarter. Bank of America Corp DE now owns 28,496 shares of the energy company's stock worth $1,900,000 after purchasing an additional 3,026 shares during the last quarter. Institutional investors own 15.81% of the company's stock.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source