Sabine Royalty Trust (NYSE:SBR) Stock Price Passes Above Fifty Day Moving Average - What's Next?

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 stock 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 traded.

Sabine Royalty Trust Trading Down 0.0%

The business has a 50 day simple moving average of $66.99 and a 200-day simple moving average of $66.40. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 14.20 and a beta of 0.27.

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

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 issued a $0.7447 dividend. This is a positive change from Sabine Royalty Trust's previous dividend of $0.35. The ex-dividend date is Friday, August 15th. This represents a dividend yield of 1,275.0%. Sabine Royalty Trust's dividend payout ratio (DPR) is 177.18%.

Hedge Funds Weigh In On Sabine Royalty Trust

A number of large investors have recently modified their holdings of the company. BNP Paribas Financial Markets raised its holdings in shares of Sabine Royalty Trust by 79.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 708 shares of the energy company's stock worth $47,000 after purchasing an additional 313 shares during the period. Bank of America Corp DE raised its holdings in shares of Sabine Royalty Trust by 11.9% during the 2nd quarter. Bank of America Corp DE now owns 28,496 shares of the energy company's stock valued at $1,900,000 after buying an additional 3,026 shares during the period. Peapack Gladstone Financial Corp raised its holdings in shares of Sabine Royalty Trust by 8.8% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 22,283 shares of the energy company's stock valued at $1,486,000 after buying an additional 1,806 shares during the period. Cresset Asset Management LLC purchased a new stake in shares of Sabine Royalty Trust during the 2nd quarter valued at about $867,000. Finally, Marshall Wace LLP purchased a new stake in shares of Sabine Royalty Trust during the 2nd quarter valued at about $1,545,000. 15.81% of the stock is currently owned by hedge funds and other institutional investors.

Sabine Royalty Trust Company Profile

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.