Sabine Royalty Trust (NYSE:SBR) Cut to Hold at StockNews.com

StockNews.com lowered shares of Sabine Royalty Trust (NYSE:SBR) from a buy rating to a hold rating in a report published on Sunday.

Sabine Royalty Trust Stock Up 2.0 %

SBR stock opened at $68.20 on Friday. The business’s 50-day moving average price is $65.16 and its 200-day moving average price is $63.15. The stock has a market cap of $994.41 million, a P/E ratio of 10.51 and a beta of 0.48. Sabine Royalty Trust has a twelve month low of $57.73 and a twelve month high of $69.50.

Sabine Royalty Trust (NYSE:SBR) last released its earnings results on Tuesday, November 12th. The energy company reported $1.31 EPS for the quarter. The company had revenue of $19.93 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 company also recently announced a monthly dividend, which was paid on Wednesday, January 29th. Investors of record on Wednesday, January 15th were issued a $0.4483 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $5.38 annualized dividend and a yield of 7.89%. This is an increase from Sabine Royalty Trust’s previous monthly dividend of $0.14. Sabine Royalty Trust’s dividend payout ratio is currently 82.90%.

Institutional Investors Weigh In On Sabine Royalty Trust

A number of institutional investors and hedge funds have recently bought and sold shares of SBR. State Street Corp grew its position in shares of Sabine Royalty Trust by 3.8% during the third quarter. State Street Corp now owns 6,505 shares of the energy company’s stock worth $402,000 after purchasing an additional 239 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Sabine Royalty Trust by 79.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,028 shares of the energy company’s stock worth $64,000 after purchasing an additional 456 shares during the period. Concurrent Investment Advisors LLC grew its holdings in Sabine Royalty Trust by 2.2% during the 4th quarter. Concurrent Investment Advisors LLC now owns 28,211 shares of the energy company’s stock valued at $1,828,000 after buying an additional 597 shares in the last quarter. Signature Resources Capital Management LLC purchased a new stake in Sabine Royalty Trust during the 4th quarter valued at approximately $39,000. Finally, Horizon Kinetics Asset Management LLC raised its position in shares of Sabine Royalty Trust by 0.7% during the third quarter. Horizon Kinetics Asset Management LLC now owns 100,368 shares of the energy company’s stock valued at $6,200,000 after buying an additional 710 shares during the last quarter. 15.81% of the stock is owned by institutional investors.

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.