Sabine Royalty Trust (NYSE:SBR) Increases Dividend to $0.35 Per Share

Sabine Royalty Trust (NYSE:SBR - Get Free Report) announced a dividend on Tuesday, July 8th, investing.com reports. Investors of record on Wednesday, July 16th will be paid a dividend of 0.3459 per share by the energy company on Tuesday, July 29th. This represents a dividend yield of 6.33%. The ex-dividend date of this dividend is Tuesday, July 15th. This is a 139.0% increase from Sabine Royalty Trust's previous dividend of $0.14.

Sabine Royalty Trust Stock Up 0.7%

SBR traded up $0.49 during trading on Friday, hitting $66.55. The company's stock had a trading volume of 21,431 shares, compared to its average volume of 37,818. The business's 50 day simple moving average is $66.06 and its 200-day simple moving average is $66.03. The firm has a market cap of $970.30 million, a PE ratio of 12.49 and a beta of 0.28. Sabine Royalty Trust has a one year low of $58.25 and a one year high of $70.20.

Sabine Royalty Trust (NYSE:SBR - Get Free Report) last announced its earnings results on Friday, May 9th. The energy company reported $1.24 EPS for the quarter. Sabine Royalty Trust had a return on equity of 904.22% and a net margin of 95.36%. The firm had revenue of $19.40 million during the quarter.

Institutional Trading of Sabine Royalty Trust

A hedge fund recently bought a new stake in Sabine Royalty Trust stock. Jane Street Group LLC bought a new stake in Sabine Royalty Trust (NYSE:SBR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 11,404 shares of the energy company's stock, valued at approximately $772,000. Jane Street Group LLC owned approximately 0.08% of Sabine Royalty Trust at the end of the most recent reporting period. Hedge funds and other institutional investors own 15.81% of the company's stock.

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.