StockNews.com Upgrades Sabine Royalty Trust (NYSE:SBR) to Buy

StockNews.com upgraded shares of Sabine Royalty Trust (NYSE:SBR) from a hold rating to a buy rating in a report published on Monday.

Sabine Royalty Trust Stock Down 0.4 %

SBR stock opened at $61.40 on Monday. The company’s 50-day moving average price is $64.26 and its two-hundred day moving average price is $63.39. The firm has a market cap of $895.15 million, a P/E ratio of 10.66 and a beta of 0.48. Sabine Royalty Trust has a 12 month low of $55.60 and a 12 month high of $72.50.

Sabine Royalty Trust Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.451 per share. This represents a $5.41 dividend on an annualized basis and a yield of 8.81%. This is a positive change from Sabine Royalty Trust’s previous monthly dividend of $0.38. The ex-dividend date is Thursday, August 15th. Sabine Royalty Trust’s payout ratio is presently 93.92%.

Hedge Funds Weigh In On Sabine Royalty Trust

Several large investors have recently modified their holdings of the business. Howard Financial Services LTD. grew its stake in shares of Sabine Royalty Trust by 0.7% in the first quarter. Howard Financial Services LTD. now owns 25,745 shares of the energy company’s stock worth $1,627,000 after purchasing an additional 182 shares during the last quarter. American National Bank increased its stake in shares of Sabine Royalty Trust by 0.6% in the first quarter. American National Bank now owns 36,185 shares of the energy company’s stock valued at $2,301,000 after buying an additional 200 shares during the period. Moors & Cabot Inc. raised its position in shares of Sabine Royalty Trust by 0.8% during the second quarter. Moors & Cabot Inc. now owns 23,998 shares of the energy company’s stock worth $1,552,000 after acquiring an additional 201 shares during the last quarter. Olistico Wealth LLC acquired a new position in shares of Sabine Royalty Trust in the second quarter worth approximately $28,000. Finally, Islay Capital Management LLC boosted its holdings in Sabine Royalty Trust by 16.7% in the fourth quarter. Islay Capital Management LLC now owns 3,500 shares of the energy company’s stock valued at $237,000 after acquiring an additional 500 shares during the last quarter. Institutional investors own 15.81% of the company’s stock.

Sabine Royalty Trust Company Profile

Sabine Royalty Trust holds royalty and mineral interests in various producing oil and gas properties in the United States. Its royalty and mineral interests include landowner's royalties, overriding royalty interests, minerals, production payments, and other similar non-participatory interest in certain producing and proved undeveloped oil and gas properties located in Florida, Louisiana, Mississippi, New Mexico, Oklahoma, and Texas.