Sabine Royalty Trust (NYSE:SBR) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN lowered its holdings in Sabine Royalty Trust (NYSE:SBR - Free Report) by 42.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,904 shares of the energy company's stock after selling 15,710 shares during the period. Wells Fargo & Company MN owned approximately 0.14% of Sabine Royalty Trust worth $1,355,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Horizon Kinetics Asset Management LLC boosted its stake in shares of Sabine Royalty Trust by 9.5% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 109,921 shares of the energy company's stock valued at $7,124,000 after buying an additional 9,553 shares during the period. TrueMark Investments LLC lifted its stake in Sabine Royalty Trust by 547.0% in the fourth quarter. TrueMark Investments LLC now owns 88,303 shares of the energy company's stock worth $5,723,000 after acquiring an additional 74,655 shares during the last quarter. Howard Financial Services LTD. grew its holdings in Sabine Royalty Trust by 14.6% during the 4th quarter. Howard Financial Services LTD. now owns 77,336 shares of the energy company's stock worth $5,012,000 after acquiring an additional 9,840 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Sabine Royalty Trust during the 4th quarter worth approximately $1,920,000. Finally, Blue Trust Inc. increased its position in shares of Sabine Royalty Trust by 15.4% in the 4th quarter. Blue Trust Inc. now owns 28,842 shares of the energy company's stock valued at $1,869,000 after purchasing an additional 3,850 shares during the last quarter. 15.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Sabine Royalty Trust from a "hold" rating to a "buy" rating in a research report on Monday, February 10th.

Sabine Royalty Trust Stock Performance

Shares of NYSE:SBR traded down $0.27 on Friday, hitting $65.35. 8,693 shares of the company's stock were exchanged, compared to its average volume of 38,267. Sabine Royalty Trust has a 1-year low of $58.25 and a 1-year high of $70.20. The company has a market capitalization of $952.74 million, a PE ratio of 10.07 and a beta of 0.30. The firm's 50-day moving average is $65.52 and its 200 day moving average is $64.85.

Sabine Royalty Trust (NYSE:SBR - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The energy company reported $1.27 EPS for the quarter. The company had revenue of $19.55 million for the quarter. Sabine Royalty Trust had a net margin of 96.72% and a return on equity of 1,088.44%.

Sabine Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which was paid on Tuesday, April 29th. Investors of record on Tuesday, April 15th were given a $0.5039 dividend. The ex-dividend date was Tuesday, April 15th. This is a boost from Sabine Royalty Trust's previous monthly dividend of $0.30. This represents a $6.05 dividend on an annualized basis and a yield of 9.25%. Sabine Royalty Trust's payout ratio is 110.62%.

Sabine Royalty Trust 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.