Sabine Royalty Trust (NYSE:SBR) Sees Unusually-High Trading Volume – Here’s What Happened

Sabine Royalty Trust (NYSE:SBR) shares saw strong trading volume on Wednesday . 56,714 shares were traded during mid-day trading, an increase of 48% from the previous session’s volume of 38,431 shares.The stock last traded at $69.8160 and had previously closed at $70.12.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Sabine Royalty Trust in a research note on Monday. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold”.

Sabine Royalty Trust Trading Down 1.1%

The stock has a market capitalization of $1.01 billion, a P/E ratio of 12.77 and a beta of 0.25. The stock’s 50 day simple moving average is $73.31 and its 200 day simple moving average is $71.61.

Sabine Royalty Trust (NYSE:SBR) last issued its earnings results on Friday, November 7th. The energy company reported $1.70 earnings per share (EPS) for the quarter. Sabine Royalty Trust had a net margin of 95.30% and a return on equity of 961.65%. The business had revenue of $25.52 million for the quarter.

Sabine Royalty Trust Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Monday, December 29th. Shareholders of record on Monday, December 15th were issued a dividend of $0.1967 per share. This represents a c) dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Monday, December 15th. Sabine Royalty Trust’s dividend payout ratio (DPR) is currently 43.46%.

Institutional Investors Weigh In On Sabine Royalty Trust

A number of institutional investors have recently made changes to their positions in the company. Moody National Bank Trust Division acquired a new position in shares of Sabine Royalty Trust in the 2nd quarter valued at about $2,346,000. Americana Partners LLC bought a new position in Sabine Royalty Trust in the second quarter worth about $2,469,000. SCS Capital Management LLC acquired a new position in Sabine Royalty Trust in the first quarter valued at approximately $2,106,000. PFG Investments LLC bought a new position in shares of Sabine Royalty Trust during the second quarter valued at approximately $260,000. Finally, Cresset Asset Management LLC bought a new position in shares of Sabine Royalty Trust during the second quarter valued at approximately $867,000. 15.81% of the stock is currently owned by institutional investors.

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.