Sabine Royalty Trust (NYSE:SBR – Get Free Report) posted its earnings results on Friday. The energy company reported $1.31 earnings per share for the quarter, Zacks reports. Sabine Royalty Trust had a net margin of 94.90% and a return on equity of 961.80%.
Sabine Royalty Trust Stock Performance
Shares of SBR stock traded down $0.39 during trading on Friday, hitting $65.47. 45,578 shares of the company were exchanged, compared to its average volume of 20,597. Sabine Royalty Trust has a twelve month low of $65.06 and a twelve month high of $79.86. The firm has a market capitalization of $954.60 million, a price-to-earnings ratio of 14.14 and a beta of 0.30. The business’s 50-day simple moving average is $72.31 and its 200 day simple moving average is $73.33.
Sabine Royalty Trust Increases Dividend
The firm also recently announced a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 16th will be issued a $0.3604 dividend. The ex-dividend date is Monday, November 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 6.6%. This is a positive change from Sabine Royalty Trust’s previous monthly dividend of $0.3554. Sabine Royalty Trust’s dividend payout ratio is currently 87.14%.
Wall Street Analyst Weigh In
Separately, Weiss Ratings downgraded shares of Sabine Royalty Trust from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Buy rating. According to data from MarketBeat, the stock has a consensus rating of “Buy”.
Read Our Latest Report on Sabine Royalty Trust
About Sabine Royalty Trust
Sabine Royalty Trust is a grantor trust formed in 1982 to own and administer royalty and mineral interests in oil and natural gas properties. The trust does not explore for, develop, or operate wells; instead, it receives royalty payments and other proceeds generated from production on properties in which it holds interests.
Its interests are located primarily across several U.S. states, including Florida, Louisiana, Mississippi, New Mexico, Oklahoma, and Texas. Revenue generally depends on the volume of oil and natural gas produced from the underlying properties, commodity prices, and the operating activity of the companies that develop and manage those properties.
Sabine Royalty Trust is listed on the New York Stock Exchange under the symbol SBR.
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