Sabine Royalty Trust (NYSE:SBR) Stock Crosses Below 200 Day Moving Average - Here's Why

Key Points

• Sabine Royalty Trust shares fell below their 200-day moving average, trading as low as $72.41 versus the average of $73.47, signaling recent technical weakness.
• Analysts maintain a “Hold” consensus, while the trust’s stock has a $1.06 billion market capitalization, a P/E ratio of 15.53, and a low beta of 0.21.
• The trust paid a monthly dividend of $0.4292 per share, representing a 7.1% annualized yield; however, its payout ratio is high at 109.81%.

Sabine Royalty Trust (NYSE:SBR - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $73.47 and traded as low as $72.41. Sabine Royalty Trust shares last traded at $72.82, with a volume of 45,970 shares.

Wall Street Analysts Forecast Growth

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

Sabine Royalty Trust Stock Performance

The firm's fifty day simple moving average is $74.24 and its 200 day simple moving average is $73.47. The stock has a market capitalization of $1.06 billion, a P/E ratio of 15.53 and a beta of 0.21.

Sabine Royalty Trust Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Wednesday, July 15th were paid a dividend of $0.4292 per share. The ex-dividend date was Wednesday, July 15th. This represents a c) annualized dividend and a yield of 7.1%. Sabine Royalty Trust's dividend payout ratio is presently 109.81%.

Hedge Funds Weigh In On Sabine Royalty Trust

Several hedge funds and other institutional investors have recently modified their holdings of SBR. WealthCollab LLC lifted its position in shares of Sabine Royalty Trust by 124.1% during the 4th quarter. WealthCollab LLC now owns 437 shares of the energy company's stock worth $30,000 after buying an additional 242 shares during the last quarter. Allworth Financial LP raised its stake in Sabine Royalty Trust by 51.8% during the third quarter. Allworth Financial LP now owns 586 shares of the energy company's stock worth $47,000 after acquiring an additional 200 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Sabine Royalty Trust by 79.2% during the second quarter. BNP Paribas Financial Markets now owns 708 shares of the energy company's stock worth $47,000 after acquiring an additional 313 shares in the last quarter. SHP Wealth Management bought a new position in shares of Sabine Royalty Trust in the fourth quarter worth about $56,000. Finally, Fifth Third Bancorp boosted its stake in shares of Sabine Royalty Trust by 25.3% in the 4th quarter. Fifth Third Bancorp now owns 826 shares of the energy company's stock valued at $57,000 after purchasing an additional 167 shares in the last quarter. Institutional investors 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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