Sabine Royalty Trust (NYSE:SBR) Issues Earnings Results

Sabine Royalty Trust (NYSE:SBR) posted its quarterly earnings data on Friday. The energy company reported $1.70 earnings per share for the quarter, Zacks reports. Sabine Royalty Trust had a net margin of 94.85% and a return on equity of 866.81%. The company had revenue of $25.52 million during the quarter.

Sabine Royalty Trust Stock Up 2.9%

Sabine Royalty Trust stock traded up $2.19 during midday trading on Friday, hitting $76.73. 49,580 shares of the stock were exchanged, compared to its average volume of 38,866. Sabine Royalty Trust has a 52 week low of $58.25 and a 52 week high of $84.39. The stock has a market capitalization of $1.12 billion, a PE ratio of 15.22 and a beta of 0.25. The company has a fifty day simple moving average of $74.01 and a two-hundred day simple moving average of $69.54.

Sabine Royalty Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 28th. Investors of record on Monday, November 17th will be paid a dividend of $0.3567 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a c) annualized dividend and a yield of 5.6%. Sabine Royalty Trust’s dividend payout ratio (DPR) is presently 87.70%.

Hedge Funds Weigh In On Sabine Royalty Trust

A number of large investors have recently modified their holdings of SBR. BNP Paribas Financial Markets increased 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 purchasing an additional 313 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Sabine Royalty Trust by 7.7% during the second quarter. Cetera Investment Advisers now owns 5,926 shares of the energy company’s stock valued at $395,000 after purchasing an additional 425 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Sabine Royalty Trust by 11.2% during the second quarter. Geneos Wealth Management Inc. now owns 5,257 shares of the energy company’s stock worth $351,000 after purchasing an additional 530 shares during the last quarter. Peapack Gladstone Financial Corp increased its stake in shares of Sabine Royalty Trust by 8.8% in the second quarter. Peapack Gladstone Financial Corp now owns 22,283 shares of the energy company’s stock valued at $1,486,000 after buying an additional 1,806 shares during the period. Finally, Bank of America Corp DE raised its holdings in Sabine Royalty Trust by 11.9% in the 2nd quarter. Bank of America Corp DE now owns 28,496 shares of the energy company’s stock valued at $1,900,000 after buying an additional 3,026 shares during the last quarter. 15.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sabine Royalty Trust in a research note on Friday, October 31st. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, Sabine Royalty Trust currently has an average rating of “Hold”.

About Sabine Royalty Trust

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.