Short Interest in Sabine Royalty Trust (NYSE:SBR) Rises By 98.0%

Sabine Royalty Trust (NYSE:SBR) saw a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 16,849 shares, a growth of 98.0% from the February 26th total of 8,511 shares. Based on an average trading volume of 37,654 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.1% of the shares of the stock are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sabine Royalty Trust in a research note on Monday, December 29th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Sabine Royalty Trust has an average rating of “Hold”.

Sabine Royalty Trust Stock Performance

Shares of NYSE SBR traded up $0.79 during trading on Thursday, hitting $74.86. The company had a trading volume of 23,892 shares, compared to its average volume of 45,843. Sabine Royalty Trust has a 52 week low of $58.25 and a 52 week high of $84.39. The business’s 50-day moving average is $71.64 and its 200 day moving average is $72.61. The company has a market cap of $1.09 billion, a P/E ratio of 14.85 and a beta of 0.28.

Sabine Royalty Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be given a dividend of $0.2862 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.6%. This is a boost from Sabine Royalty Trust’s previous monthly dividend of $0.28. The ex-dividend date of this dividend is Monday, March 16th. Sabine Royalty Trust’s payout ratio is presently 68.06%.

Hedge Funds Weigh In On Sabine Royalty Trust

A number of hedge funds and other institutional investors have recently modified their holdings of SBR. Olistico Wealth LLC acquired a new stake in Sabine Royalty Trust during the 4th quarter worth about $29,000. WealthCollab LLC boosted its holdings in shares of 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 buying an additional 242 shares during the period. Allworth Financial LP increased its position in shares of 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 acquiring an additional 200 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Sabine Royalty Trust by 85.6% in the third quarter. Fifth Third Bancorp now owns 659 shares of the energy company’s stock worth $52,000 after acquiring an additional 304 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings 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 acquiring an additional 313 shares during the period. Institutional investors and hedge funds 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.