Sabine Royalty Trust (NYSE:SBR) Short Interest Update

Sabine Royalty Trust (NYSE:SBR) saw a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 16,849 shares, a growth of 98.0% from the February 26th total of 8,511 shares. Based on an average daily trading volume, of 37,654 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.1% of the company’s shares are sold short.

Sabine Royalty Trust Stock Performance

Shares of NYSE SBR traded up $1.63 during trading on Friday, reaching $76.47. The stock had a trading volume of 45,966 shares, compared to its average volume of 45,409. The company has a market cap of $1.11 billion, a P/E ratio of 15.17 and a beta of 0.28. Sabine Royalty Trust has a fifty-two week low of $58.25 and a fifty-two week high of $84.39. The business’s 50-day moving average price is $71.82 and its 200-day moving average price is $72.63.

Sabine Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be given a $0.2862 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a c) annualized dividend and a yield of 4.5%. This is an increase from Sabine Royalty Trust’s previous monthly dividend of $0.28. Sabine Royalty Trust’s dividend payout ratio is presently 68.06%.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Sabine Royalty Trust in a research report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold”.

Institutional Trading of Sabine Royalty Trust

Several hedge funds have recently made changes to their positions in the business. Olistico Wealth LLC purchased a new position in shares of Sabine Royalty Trust in the fourth quarter valued at approximately $29,000. WealthCollab LLC increased its stake in Sabine Royalty Trust by 124.1% during the 4th quarter. WealthCollab LLC now owns 437 shares of the energy company’s stock worth $30,000 after buying an additional 242 shares during the period. Allworth Financial LP lifted its holdings in Sabine Royalty Trust by 51.8% during the 3rd quarter. Allworth Financial LP now owns 586 shares of the energy company’s stock worth $47,000 after buying an additional 200 shares in the last quarter. Fifth Third Bancorp lifted its holdings in Sabine Royalty Trust by 85.6% during the 3rd quarter. Fifth Third Bancorp now owns 659 shares of the energy company’s stock worth $52,000 after buying an additional 304 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Sabine Royalty Trust by 79.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 708 shares of the energy company’s stock valued at $47,000 after buying an additional 313 shares during the period. Institutional investors and hedge funds own 15.81% of the company’s stock.

About Sabine Royalty Trust

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.