Sabine Royalty Trust (NYSE:SBR) Share Price Passes Above 50 Day Moving Average – Time to Sell?

Sabine Royalty Trust (NYSE:SBR) shares passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $73.14 and traded as high as $76.45. Sabine Royalty Trust shares last traded at $75.46, with a volume of 23,436 shares traded.

Wall Street Analyst Weigh In

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

Sabine Royalty Trust Stock Down 0.2%

The business has a 50 day moving average price of $73.22 and a 200 day moving average price of $74.13. The stock has a market cap of $1.10 billion, a P/E ratio of 15.44 and a beta of 0.22.

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

Sabine Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were paid a dividend of $0.6194 per share. This represents a c) dividend on an annualized basis and a dividend yield of 9.8%. The ex-dividend date was Monday, August 17th. This is an increase from Sabine Royalty Trust’s previous monthly dividend of $0.43. Sabine Royalty Trust’s dividend payout ratio (DPR) is 151.63%.

Hedge Funds Weigh In On Sabine Royalty Trust

A number of hedge funds have recently made changes to their positions in SBR. Fifth Third Bancorp raised its stake 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 acquiring an additional 167 shares during the period. Royal Bank of Canada boosted its holdings in Sabine Royalty Trust by 8.2% during the 4th 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 during the period. Cetera Investment Advisers increased its stake in Sabine Royalty Trust by 3.9% during the first quarter. Cetera Investment Advisers now owns 6,757 shares of the energy company’s stock worth $509,000 after purchasing an additional 254 shares during the period. BNP Paribas Financial Markets lifted 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. Finally, Mercer Global Advisors Inc. ADV boosted its stake in shares of Sabine Royalty Trust by 2.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 15,025 shares of the energy company’s stock valued at $1,030,000 after purchasing an additional 418 shares during the period. Institutional investors and hedge funds 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.