Sabine Royalty Trust (NYSE:SBR) Shares Gap Down – Time to Sell?

Shares of Sabine Royalty Trust (NYSE:SBR) gapped down prior to trading on Friday . The stock had previously closed at $78.20, but opened at $74.50. Sabine Royalty Trust shares last traded at $75.15, with a volume of 2,800 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sabine Royalty Trust in a research note on Tuesday, June 2nd. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Sabine Royalty Trust Price Performance

The firm has a market cap of $1.09 billion, a PE ratio of 16.01 and a beta of 0.21. The company has a 50 day simple moving average of $75.96 and a 200-day simple moving average of $73.09.

Sabine Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be paid a $0.503 dividend. This is an increase from Sabine Royalty Trust’s previous monthly dividend of $0.50. This represents a c) annualized dividend and a yield of 8.0%. The ex-dividend date of this dividend is Monday, June 15th. Sabine Royalty Trust’s payout ratio is currently 127.29%.

Institutional Trading of Sabine Royalty Trust

Several hedge funds and other institutional investors have recently bought and sold shares of SBR. Olistico Wealth LLC purchased a new stake in Sabine Royalty Trust in the fourth quarter worth approximately $29,000. WealthCollab LLC boosted its stake in shares of Sabine Royalty Trust by 124.1% during the fourth quarter. WealthCollab LLC now owns 437 shares of the energy company’s stock valued at $30,000 after purchasing an additional 242 shares during the period. Allworth Financial LP boosted its stake in shares of Sabine Royalty Trust by 51.8% during the third quarter. Allworth Financial LP now owns 586 shares of the energy company’s stock valued at $47,000 after purchasing an additional 200 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Sabine Royalty Trust by 79.2% during the second quarter. BNP Paribas Financial Markets now owns 708 shares of the energy company’s stock valued at $47,000 after purchasing an additional 313 shares during the period. Finally, Fifth Third Bancorp boosted its stake in shares of Sabine Royalty Trust by 85.6% during the third quarter. Fifth Third Bancorp now owns 659 shares of the energy company’s stock valued at $52,000 after purchasing an additional 304 shares during the period. Hedge funds and other institutional investors own 15.81% of the company’s stock.

Sabine Royalty Trust Company Profile

Sabine Royalty Trust is a Delaware statutory trust that owns a non-operating royalty interest in a portfolio of oil and gas properties. Rather than engaging in exploration or production activities directly, the trust receives a share of net proceeds from hydrocarbon production on the underlying properties and distributes those proceeds to unitholders on a monthly basis.

The trust was established in 1982 through a transaction with Sabine Oil & Gas Corporation, which transferred its overriding royalty interests in numerous wells and acreage to the trust.