Sabine Royalty Trust (NYSE:SBR) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Sabine Royalty Trust (NYSE:SBR) shares crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $73.79 and traded as low as $72.49. Sabine Royalty Trust shares last traded at $72.9140, with a volume of 24,837 shares.

Analysts Set New Price Targets

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

Sabine Royalty Trust Price Performance

The company has a market cap of $1.06 billion, a PE ratio of 14.88 and a beta of 0.21. The business’s 50 day moving average is $73.24 and its 200-day moving average is $73.79.

Sabine Royalty Trust (NYSE:SBR) last announced its quarterly earnings data 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 firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be issued a $0.6194 dividend. This represents a c) annualized dividend and a yield of 10.2%. This is a boost from Sabine Royalty Trust’s previous monthly dividend of $0.43. The ex-dividend date of this dividend is Monday, August 17th. Sabine Royalty Trust’s dividend payout ratio is currently 105.10%.

Institutional Trading of Sabine Royalty Trust

Institutional investors have recently bought and sold shares of the business. Prospera Financial Services Inc boosted its position in shares of Sabine Royalty Trust by 173.9% during the 4th quarter. Prospera Financial Services Inc now owns 158,609 shares of the energy company’s stock worth $10,876,000 after acquiring an additional 100,691 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Sabine Royalty Trust during the 2nd quarter worth about $1,545,000. Clare Market Investments LLC purchased a new stake in Sabine Royalty Trust during the first quarter worth approximately $1,644,000. Two Sigma Investments LP lifted its stake in Sabine Royalty Trust by 31.0% during the third quarter. Two Sigma Investments LP now owns 73,515 shares of the energy company’s stock worth $5,842,000 after purchasing an additional 17,385 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Sabine Royalty Trust in the fourth quarter valued at approximately $1,080,000. 15.81% of the stock is owned by hedge funds and other institutional investors.

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.