Sabine Royalty Trust (NYSE:SBR) Stock Price Crosses Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Sabine Royalty Trust shares fell below their 200-day moving average of $73.64, reaching a low of $70.11 before last trading at $70.7450.
• Analysts maintained a cautious stance, with Weiss Ratings reaffirming a “Hold (C)” rating and MarketBeat reporting an overall “Hold” consensus.
• The trust paid a monthly dividend of $0.4292 per share, representing a 7.3% annualized yield, though its dividend payout ratio was elevated at 109.81%.

Sabine Royalty Trust (NYSE:SBR - Get Free Report) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $73.64 and traded as low as $70.11. Sabine Royalty Trust shares last traded at $70.7450, with a volume of 46,441 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Sabine Royalty Trust in a research note on Tuesday, June 2nd. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Sabine Royalty Trust has an average rating of "Hold".

Sabine Royalty Trust Trading Down 0.0%

The firm has a market capitalization of $1.03 billion, a P/E ratio of 15.08 and a beta of 0.21. The business has a 50 day moving average of $73.73 and a 200-day moving average of $73.64.

Sabine Royalty Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Wednesday, July 29th. Investors of record on Wednesday, July 15th were issued a dividend of $0.4292 per share. This represents a c) dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date was Wednesday, July 15th. Sabine Royalty Trust's dividend payout ratio (DPR) is presently 109.81%.

Hedge Funds Weigh In On Sabine Royalty Trust

A number of large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Sabine Royalty Trust by 282.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,362 shares of the energy company's stock worth $1,221,000 after acquiring an additional 11,345 shares in the last quarter. Prospera Financial Services Inc lifted its position in shares of Sabine Royalty Trust by 173.9% in the fourth quarter. Prospera Financial Services Inc now owns 158,609 shares of the energy company's stock worth $10,876,000 after purchasing an additional 100,691 shares in the last quarter. Savant Capital LLC bought a new stake in shares of Sabine Royalty Trust in the fourth quarter worth $820,000. Clare Market Investments LLC acquired a new position in Sabine Royalty Trust during the first quarter worth $1,644,000. Finally, Independent Financial Group LLC acquired a new position in Sabine Royalty Trust during the first quarter worth $765,000. 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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