Sabine Royalty Trust (NYSE:SBR) Issues Quarterly Earnings Results

Sabine Royalty Trust (NYSE:SBR) announced its quarterly earnings results on Friday. The energy company reported $1.43 EPS for the quarter, Zacks reports. Sabine Royalty Trust had a net margin of 94.73% and a return on equity of 959.48%.

Sabine Royalty Trust Stock Performance

Shares of Sabine Royalty Trust stock traded up $1.85 on Friday, reaching $72.58. The stock had a trading volume of 61,442 shares, compared to its average volume of 39,229. The business’s 50-day moving average price is $73.73 and its two-hundred day moving average price is $73.64. The stock has a market cap of $1.06 billion, a P/E ratio of 15.48 and a beta of 0.21. Sabine Royalty Trust has a fifty-two week low of $65.31 and a fifty-two week high of $84.39.

Sabine Royalty Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be paid a $0.6194 dividend. The ex-dividend date is Monday, August 17th. This is a positive change from Sabine Royalty Trust’s previous monthly dividend of $0.43. This represents a c) dividend on an annualized basis and a dividend yield of 10.2%. Sabine Royalty Trust’s dividend payout ratio is presently 109.81%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Sabine Royalty Trust in a research note on Tuesday, June 2nd. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold”.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its position in Sabine Royalty Trust by 79.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 708 shares of the energy company’s stock worth $47,000 after acquiring an additional 313 shares during the last quarter. Garton & Associates Financial Advisors LLC bought a new position in shares of Sabine Royalty Trust in the fourth quarter worth about $67,000. NewEdge Advisors LLC increased its stake in shares of Sabine Royalty Trust by 92.6% in the third quarter. NewEdge Advisors LLC now owns 1,040 shares of the energy company’s stock worth $83,000 after purchasing an additional 500 shares during the period. Royal Bank of Canada lifted its position in shares of 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 worth $157,000 after purchasing an additional 174 shares during the last quarter. Finally, Titleist Asset Management LLC acquired a new position in shares of Sabine Royalty Trust during the 4th quarter worth about $285,000. Institutional investors 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.