Sabine Royalty Trust (NYSE:SBR) Sees Significant Drop in Short Interest

Sabine Royalty Trust (NYSE:SBR) was the target of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 11,000 shares, a decrease of 47.1% from the August 15th total of 20,800 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 37,200 shares, the short-interest ratio is currently 0.3 days.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Beacon Pointe Advisors LLC increased its holdings in Sabine Royalty Trust by 2.8% in the fourth quarter. Beacon Pointe Advisors LLC now owns 198,490 shares of the energy company’s stock valued at $13,440,000 after buying an additional 5,318 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Sabine Royalty Trust during the 1st quarter valued at about $11,173,000. Commonwealth Equity Services LLC increased its stake in shares of Sabine Royalty Trust by 77.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 38,820 shares of the energy company’s stock valued at $2,511,000 after purchasing an additional 16,902 shares in the last quarter. American National Bank raised its holdings in Sabine Royalty Trust by 0.6% in the 1st quarter. American National Bank now owns 36,185 shares of the energy company’s stock worth $2,301,000 after purchasing an additional 200 shares during the period. Finally, Raymond James & Associates boosted its position in Sabine Royalty Trust by 2.3% during the second quarter. Raymond James & Associates now owns 26,427 shares of the energy company’s stock worth $1,710,000 after purchasing an additional 588 shares in the last quarter. 15.81% of the stock is currently owned by hedge funds and other institutional investors.

Sabine Royalty Trust Trading Up 0.8 %

NYSE:SBR opened at $60.50 on Friday. The company’s fifty day moving average price is $63.04 and its 200-day moving average price is $63.51. Sabine Royalty Trust has a 1-year low of $55.60 and a 1-year high of $72.50.

Sabine Royalty Trust (NYSE:SBR) last posted its quarterly earnings results on Thursday, August 8th. The energy company reported $1.51 EPS for the quarter. The company had revenue of $22.78 million for the quarter. Sabine Royalty Trust had a net margin of 96.63% and a return on equity of 1,098.84%.

Sabine Royalty Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.4213 per share. This represents a $5.06 annualized dividend and a yield of 8.36%. This is a positive change from Sabine Royalty Trust’s previous monthly dividend of $0.14. The ex-dividend date of this dividend is Monday, September 16th. Sabine Royalty Trust’s dividend payout ratio (DPR) is 93.92%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Sabine Royalty Trust from a “hold” rating to a “buy” rating in a report on Monday, August 12th.

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.