Sabine Royalty Trust (NYSE:SBR) Stock Crosses Above 50-Day Moving Average - Here's What Happened

Key Points

• Sabine Royalty Trust's stock price recently surpassed its 50-day moving average, reaching a high of $71.00 before closing at $70.11.
• The company announced an increase in its dividend, which will now pay $0.7447 per share, significantly up from the previous $0.35, representing a staggering 1,275.0% dividend yield.
• Institutional investors now hold 15.81% of Sabine Royalty Trust's stock, with notable increases in holdings by several firms, including GAMMA Investing and Quaker Wealth Management.

Sabine Royalty Trust (NYSE:SBR - Get Free Report)'s share price passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $66.63 and traded as high as $71.00. Sabine Royalty Trust shares last traded at $70.11, with a volume of 33,514 shares.

Sabine Royalty Trust Price Performance

The stock's 50 day moving average price is $66.90 and its two-hundred day moving average price is $66.37. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 14.19 and a beta of 0.27.

Sabine Royalty Trust (NYSE:SBR - Get Free Report) last issued its quarterly earnings data on Friday, August 8th. The energy company reported $1.22 earnings per share for the quarter. Sabine Royalty Trust had a net margin of 94.85% and a return on equity of 866.81%. The business had revenue of $18.70 million during the quarter.

Sabine Royalty Trust Increases Dividend

The company also recently disclosed a dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be paid a $0.7447 dividend. The ex-dividend date is Friday, August 15th. This is a positive change from Sabine Royalty Trust's previous dividend of $0.35. This represents a dividend yield of 1,275.0%. Sabine Royalty Trust's dividend payout ratio is presently 82.34%.

Institutional Trading of Sabine Royalty Trust

A number of institutional investors and hedge funds have recently modified their holdings of SBR. GAMMA Investing LLC increased its position in Sabine Royalty Trust by 6,666.7% during the first quarter. GAMMA Investing LLC now owns 406 shares of the energy company's stock worth $27,000 after acquiring an additional 400 shares during the period. Raymond James Financial Inc. bought a new position in Sabine Royalty Trust during the fourth quarter worth $1,920,000. Clare Market Investments LLC increased its position in Sabine Royalty Trust by 19.3% during the first quarter. Clare Market Investments LLC now owns 27,793 shares of the energy company's stock worth $1,881,000 after acquiring an additional 4,500 shares during the period. XTX Topco Ltd bought a new position in Sabine Royalty Trust during the first quarter worth $262,000. Finally, Beacon Pointe Advisors LLC increased its position in Sabine Royalty Trust by 289.7% during the fourth quarter. Beacon Pointe Advisors LLC now owns 188,111 shares of the energy company's stock worth $12,191,000 after acquiring an additional 139,836 shares during the period. 15.81% of the stock is currently owned by institutional investors and hedge funds.

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.