Sabine Royalty Trust (NYSE:SBR) Shares Gap Down – Time to Sell?

Sabine Royalty Trust (NYSE:SBR) shares gapped down before the market opened on Thursday . The stock had previously closed at $75.02, but opened at $72.80. Sabine Royalty Trust shares last traded at $73.1990, with a volume of 531 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Sabine Royalty Trust from a “hold (c)” rating to a “buy (b-)” rating in a report on Friday, August 14th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Sabine Royalty Trust currently has an average rating of “Buy”.

Sabine Royalty Trust Price Performance

The stock has a market cap of $1.06 billion, a P/E ratio of 14.90 and a beta of 0.22. The company has a fifty day moving average of $73.52 and a 200 day moving average of $74.41.

Sabine Royalty Trust (NYSE:SBR) last issued its quarterly earnings results on Friday, August 7th. The energy company reported $1.43 earnings per share (EPS) for the quarter. Sabine Royalty Trust had a return on equity of 961.80% and a net margin of 94.90%.The firm had revenue of $21.79 million during the quarter.

Sabine Royalty Trust Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.3317 per share. This represents a c) dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Tuesday, September 15th. Sabine Royalty Trust’s payout ratio is presently 81.22%.

Institutional Investors Weigh In On Sabine Royalty Trust

A number of institutional investors and hedge funds have recently bought and sold shares of SBR. Cetera Investment Advisers lifted its position in Sabine Royalty Trust by 3.9% in the 1st quarter. Cetera Investment Advisers now owns 6,757 shares of the energy company’s stock valued at $509,000 after acquiring an additional 254 shares in the last quarter. Capital Analysts LLC raised its stake in shares of Sabine Royalty Trust by 1.2% in the 2nd quarter. Capital Analysts LLC now owns 31,020 shares of the energy company’s stock valued at $2,270,000 after purchasing an additional 380 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Sabine Royalty Trust by 55.2% in the first quarter. Fifth Third Bancorp now owns 1,282 shares of the energy company’s stock valued at $97,000 after purchasing an additional 456 shares in the last quarter. SHP Wealth Management acquired a new position in shares of Sabine Royalty Trust during the fourth quarter worth about $56,000. Finally, Peapack Gladstone Financial Corp grew its holdings in shares of Sabine Royalty Trust by 4.2% during the fourth quarter. Peapack Gladstone Financial Corp now owns 23,249 shares of the energy company’s stock worth $1,594,000 after buying an additional 929 shares in the last quarter. 15.81% of the stock is owned by institutional investors and hedge funds.

About Sabine Royalty Trust

Sabine Royalty Trust (NYSE:SBR) is a grantor trust that owns royalty and mineral interests in a portfolio of oil and natural gas properties in the United States. The trust does not drill wells or directly operate producing properties. Instead, independent exploration and production companies develop and operate the properties, with the trust receiving a portion of the resulting production revenues.

The trust’s interests are located primarily in Texas, Louisiana, Oklahoma, New Mexico, Mississippi and Florida.