21,825 Shares in Sabine Royalty Trust $SBR Bought by Clare Market Investments LLC

Clare Market Investments LLC bought a new position in Sabine Royalty Trust (NYSE:SBR) in the 1st quarter, Holdings Channel reports. The firm bought 21,825 shares of the energy company’s stock, valued at approximately $1,644,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SBR. Fifth Third Bancorp raised its holdings in shares of Sabine Royalty Trust by 25.3% in the 4th quarter. Fifth Third Bancorp now owns 826 shares of the energy company’s stock valued at $57,000 after purchasing an additional 167 shares in the last quarter. Royal Bank of Canada boosted its stake in Sabine Royalty Trust by 8.2% in the fourth quarter. Royal Bank of Canada now owns 2,289 shares of the energy company’s stock valued at $157,000 after acquiring an additional 174 shares in the last quarter. Allworth Financial LP grew its holdings in Sabine Royalty Trust by 51.8% in the third quarter. Allworth Financial LP now owns 586 shares of the energy company’s stock worth $47,000 after purchasing an additional 200 shares during the last quarter. WealthCollab LLC grew its holdings in Sabine Royalty Trust by 124.1% in the fourth quarter. WealthCollab LLC now owns 437 shares of the energy company’s stock worth $30,000 after purchasing an additional 242 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position 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 worth $47,000 after purchasing an additional 313 shares in the last quarter. Institutional investors own 15.81% of the company’s stock.

Sabine Royalty Trust Trading Up 1.0%

NYSE:SBR opened at $73.62 on Tuesday. The firm has a market cap of $1.07 billion, a P/E ratio of 15.65 and a beta of 0.21. The stock has a 50 day moving average of $75.29 and a two-hundred day moving average of $72.86. Sabine Royalty Trust has a 12 month low of $65.15 and a 12 month high of $84.39.

Sabine Royalty Trust Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Wednesday, July 15th will be issued a $0.4292 dividend. This represents a c) annualized dividend and a yield of 7.0%. The ex-dividend date is Wednesday, July 15th. Sabine Royalty Trust’s dividend payout ratio is presently 128.78%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Sabine Royalty Trust in a research report on Tuesday, June 2nd. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

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.