Sabine Royalty Trust (NYSE:SBR) Shares Pass Above 50 Day Moving Average – Here’s What Happened

Sabine Royalty Trust (NYSE:SBR)’s stock price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $72.87 and traded as high as $73.60. Sabine Royalty Trust shares last traded at $72.75, with a volume of 29,392 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Sabine Royalty Trust from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday, August 14th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy”.

Sabine Royalty Trust Stock Performance

The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 14.99 and a beta of 0.21. The business’s 50-day moving average is $72.93 and its two-hundred day moving average is $73.93.

Sabine Royalty Trust (NYSE:SBR) last issued its quarterly earnings data on Friday, August 7th. The energy company reported $1.43 earnings per share (EPS) for the quarter. Sabine Royalty Trust had a net margin of 94.90% and a return on equity of 961.80%. The firm had revenue of $21.79 million during the quarter.

Sabine Royalty Trust Increases Dividend

The company also recently declared 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 a positive change from Sabine Royalty Trust’s previous monthly dividend of $0.43. This represents a c) dividend on an annualized basis and a dividend yield of 10.1%. The ex-dividend date of this dividend is Monday, August 17th. Sabine Royalty Trust’s payout ratio is 151.63%.

Institutional Trading of Sabine Royalty Trust

A number of large investors have recently made changes to their positions in SBR. BNP Paribas Financial Markets raised its stake in Sabine Royalty Trust by 79.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 708 shares of the energy company’s stock worth $47,000 after buying an additional 313 shares during the period. SHP Wealth Management acquired a new position in Sabine Royalty Trust in the fourth quarter valued at about $56,000. Fifth Third Bancorp increased its holdings in shares of Sabine Royalty Trust by 25.3% in the fourth quarter. Fifth Third Bancorp now owns 826 shares of the energy company’s stock worth $57,000 after acquiring an additional 167 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Sabine Royalty Trust by 3,831.8% in the fourth quarter. Farther Finance Advisors LLC now owns 865 shares of the energy company’s stock worth $59,000 after acquiring an additional 843 shares in the last quarter. Finally, Garton & Associates Financial Advisors LLC acquired a new stake in shares of Sabine Royalty Trust during the fourth quarter worth about $67,000. 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.