Sabine Royalty Trust (NYSE:SBR) Releases Earnings Results

Sabine Royalty Trust (NYSE:SBR) announced its quarterly earnings data on Friday. The energy company reported $1.43 earnings per share (EPS) for the quarter, Zacks reports. The business had revenue of $21.79 million for the quarter. Sabine Royalty Trust had a return on equity of 959.48% and a net margin of 94.73%.

Sabine Royalty Trust Trading Up 2.6%

Sabine Royalty Trust stock opened at $72.58 on Friday. The company has a fifty day simple moving average of $73.68 and a 200-day simple moving average of $73.63. The stock has a market cap of $1.06 billion, a P/E ratio of 14.81 and a beta of 0.21. Sabine Royalty Trust has a 12-month low of $65.31 and a 12-month high of $84.39.

Sabine Royalty Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be given a dividend of $0.6194 per share. This is an increase from Sabine Royalty Trust’s previous monthly dividend of $0.43. The ex-dividend date of this dividend is Monday, August 17th. This represents a c) annualized dividend and a dividend yield of 10.2%. Sabine Royalty Trust’s dividend payout ratio is presently 109.81%.

Wall Street Analyst Weigh In

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

Institutional Trading of Sabine Royalty Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Marshall Wace LLP purchased a new position in Sabine Royalty Trust during the 2nd quarter worth approximately $1,545,000. Two Sigma Investments LP lifted its stake in Sabine Royalty Trust by 31.0% in the third quarter. Two Sigma Investments LP now owns 73,515 shares of the energy company’s stock valued at $5,842,000 after buying an additional 17,385 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Sabine Royalty Trust in the fourth quarter valued at approximately $1,080,000. &PARTNERS acquired a new stake in shares of Sabine Royalty Trust in the fourth quarter valued at approximately $962,000. Finally, Bank of America Corp DE grew its position in shares of Sabine Royalty Trust by 40.5% during the third quarter. Bank of America Corp DE now owns 40,023 shares of the energy company’s stock worth $3,180,000 after acquiring an additional 11,527 shares during the last quarter. 15.81% of the stock is currently owned by institutional investors and hedge funds.

About Sabine Royalty Trust

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.