Sabine Royalty Trust (NYSE:SBR – Get Free Report) shares reached a new 52-week low during trading on Friday. The stock traded as low as $65.06 and last traded at $65.4730, with a volume of 43,442 shares. The stock had previously closed at $65.86.
Wall Street Analyst Weigh In
Separately, Weiss Ratings lowered Sabine Royalty Trust from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Buy rating. According to data from MarketBeat, the stock currently has an average rating of “Buy”.
Read Our Latest Stock Analysis on Sabine Royalty Trust
Sabine Royalty Trust Stock Down 0.6%
The stock’s 50 day moving average is $72.48 and its two-hundred day moving average is $73.34. The company has a market capitalization of $954.60 million, a PE ratio of 13.36 and a beta of 0.30.
Sabine Royalty Trust (NYSE:SBR – Get Free Report) last posted its earnings results on Friday, November 6th. The energy company reported $1.31 EPS for the quarter. Sabine Royalty Trust had a net margin of 94.90% and a return on equity of 961.80%.
Sabine Royalty Trust Increases Dividend
The firm also recently disclosed a monthly dividend, which was paid on Thursday, October 29th. Stockholders of record on Thursday, October 15th were paid a dividend of $0.3554 per share. This is a boost from Sabine Royalty Trust’s previous monthly dividend of $0.3317. This represents a $4.27 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date was Thursday, October 15th. Sabine Royalty Trust’s payout ratio is 87.14%.
Hedge Funds Weigh In On Sabine Royalty Trust
Several institutional investors have recently bought and sold shares of the business. Cetera Investment Advisers raised its stake in Sabine Royalty Trust by 3.9% in the first quarter. Cetera Investment Advisers now owns 6,757 shares of the energy company’s stock worth $509,000 after buying an additional 254 shares in the last quarter. Capital Analysts LLC lifted its holdings in Sabine Royalty Trust by 1.2% during the second quarter. Capital Analysts LLC now owns 31,020 shares of the energy company’s stock worth $2,270,000 after buying an additional 380 shares during the period. Fifth Third Bancorp boosted its position in Sabine Royalty Trust by 55.2% during the 1st quarter. Fifth Third Bancorp now owns 1,282 shares of the energy company’s stock valued at $97,000 after acquiring an additional 456 shares in the last quarter. MADDEN SECURITIES Corp bought a new stake in Sabine Royalty Trust during the 3rd quarter valued at $35,000. Finally, Lazard Asset Management LLC boosted its position in Sabine Royalty Trust by 9.8% during the 1st quarter. Lazard Asset Management LLC now owns 17,289 shares of the energy company’s stock valued at $1,303,000 after acquiring an additional 1,542 shares in the last quarter. 15.81% of the stock is owned by hedge funds and other institutional investors.
About Sabine Royalty Trust
Sabine Royalty Trust is a grantor trust formed in 1982 to own and administer royalty and mineral interests in oil and natural gas properties. The trust does not explore for, develop, or operate wells; instead, it receives royalty payments and other proceeds generated from production on properties in which it holds interests.
Its interests are located primarily across several U.S. states, including Florida, Louisiana, Mississippi, New Mexico, Oklahoma, and Texas. Revenue generally depends on the volume of oil and natural gas produced from the underlying properties, commodity prices, and the operating activity of the companies that develop and manage those properties.
Sabine Royalty Trust is listed on the New York Stock Exchange under the symbol SBR.
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