Sabine Royalty Trust (NYSE:SBR) Shares Cross Above 200 Day Moving Average – What’s Next?

Sabine Royalty Trust (NYSE:SBR)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $73.09 and traded as high as $74.55. Sabine Royalty Trust shares last traded at $74.3790, with a volume of 48,444 shares changing hands.

Analysts Set New Price Targets

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

Sabine Royalty Trust Price Performance

The firm has a market cap of $1.07 billion, a P/E ratio of 15.68 and a beta of 0.21. The stock’s 50 day moving average is $74.95 and its two-hundred day moving average is $73.13.

Sabine Royalty Trust Cuts Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Prospera Financial Services Inc raised its position in Sabine Royalty Trust by 173.9% in the 4th quarter. Prospera Financial Services Inc now owns 158,609 shares of the energy company’s stock valued at $10,876,000 after purchasing an additional 100,691 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Sabine Royalty Trust during the second quarter worth $1,545,000. Clare Market Investments LLC bought a new stake in shares of Sabine Royalty Trust during the first quarter worth $1,644,000. Two Sigma Investments LP increased its stake in shares of 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 in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Sabine Royalty Trust in the fourth quarter valued at $1,080,000. Institutional investors own 15.81% of the company’s stock.

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.