Sabine Royalty Trust (NYSE:SBR) Posts Earnings Results

Sabine Royalty Trust (NYSE:SBR) announced its quarterly earnings results on Friday. The energy company reported $1.31 EPS for the quarter, Zacks reports. The firm had revenue of $19.72 million for the quarter. Sabine Royalty Trust had a return on equity of 961.80% and a net margin of 94.90%.

Sabine Royalty Trust Stock Down 0.6%

Shares of Sabine Royalty Trust stock opened at $65.47 on Friday. Sabine Royalty Trust has a twelve month low of $65.06 and a twelve month high of $79.86. The stock has a market cap of $954.53 million, a price-to-earnings ratio of 14.52 and a beta of 0.30. The company’s fifty day moving average is $72.31 and its 200 day moving average is $73.33.

Sabine Royalty Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 16th will be issued a dividend of $0.3604 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 6.6%. This is a boost from Sabine Royalty Trust’s previous monthly dividend of $0.3554. The ex-dividend date is Monday, November 16th. Sabine Royalty Trust’s dividend payout ratio (DPR) is presently 95.79%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded Sabine Royalty Trust from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. One analyst has rated the stock with a Buy rating. According to MarketBeat, the company currently has an average rating of “Buy”.

Sabine Royalty Trust Company Profile

Sabine Royalty Trust is a grantor trust formed in 1982 to own and administer royalty and mineral interests in oil and natural gas properties. The trust does not explore for, develop, or operate wells; instead, it receives royalty payments and other proceeds generated from production on properties in which it holds interests.

Its interests are located primarily across several U.S. states, including Florida, Louisiana, Mississippi, New Mexico, Oklahoma, and Texas. Revenue generally depends on the volume of oil and natural gas produced from the underlying properties, commodity prices, and the operating activity of the companies that develop and manage those properties.

Sabine Royalty Trust is listed on the New York Stock Exchange under the symbol SBR.