Sabine Royalty Trust (NYSE:SBR) Sees Significant Growth in Short Interest

Sabine Royalty Trust (NYSE:SBR - Get Free Report) was the recipient of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 56,400 shares, a growth of 32.4% from the March 31st total of 42,600 shares. Approximately 0.4% of the company's shares are short sold. Based on an average daily volume of 40,800 shares, the days-to-cover ratio is currently 1.4 days.

Institutional Investors Weigh In On Sabine Royalty Trust

A number of hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new position in shares of Sabine Royalty Trust during the 1st quarter valued at $262,000. LPL Financial LLC raised its stake in shares of Sabine Royalty Trust by 16.1% during the first quarter. LPL Financial LLC now owns 22,035 shares of the energy company's stock valued at $1,492,000 after acquiring an additional 3,062 shares during the last quarter. Significant Wealth Partners LLC boosted its holdings in shares of Sabine Royalty Trust by 17.1% during the first quarter. Significant Wealth Partners LLC now owns 5,209 shares of the energy company's stock worth $351,000 after purchasing an additional 760 shares during the period. Concurrent Investment Advisors LLC grew its stake in shares of Sabine Royalty Trust by 0.8% in the first quarter. Concurrent Investment Advisors LLC now owns 28,424 shares of the energy company's stock worth $1,918,000 after purchasing an additional 213 shares during the last quarter. Finally, 1900 Wealth Management LLC increased its holdings in Sabine Royalty Trust by 24.0% during the 1st quarter. 1900 Wealth Management LLC now owns 5,908 shares of the energy company's stock valued at $399,000 after purchasing an additional 1,143 shares during the period. Institutional investors and hedge funds own 15.81% of the company's stock.

Sabine Royalty Trust Stock Up 0.8 %

Sabine Royalty Trust stock traded up $0.51 during mid-day trading on Thursday, hitting $63.25. 2,159 shares of the stock were exchanged, compared to its average volume of 38,492. The stock has a market capitalization of $922.12 million, a price-to-earnings ratio of 9.75 and a beta of 0.29. Sabine Royalty Trust has a 12 month low of $58.25 and a 12 month high of $70.20. The firm's fifty day simple moving average is $65.33 and its two-hundred day simple moving average is $64.91.

Sabine Royalty Trust (NYSE:SBR - Get Free Report) last released its earnings results on Thursday, February 27th. The energy company reported $1.27 earnings per share (EPS) for the quarter. The business had revenue of $19.55 million for the quarter. Sabine Royalty Trust had a net margin of 96.72% and a return on equity of 1,088.44%.

Sabine Royalty Trust Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be issued a $0.4478 dividend. This represents a $5.37 dividend on an annualized basis and a yield of 8.50%. The ex-dividend date is Thursday, May 15th. Sabine Royalty Trust's payout ratio is 98.35%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Sabine Royalty Trust from a "hold" rating to a "buy" rating in a research note on Monday, February 10th.

About Sabine Royalty Trust

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.