Sabine Royalty Trust (NYSE:SBR) Trading Down 6.5% – Here’s What Happened

Sabine Royalty Trust (NYSE:SBR)’s share price was down 6.5% during mid-day trading on Friday . The stock traded as low as $73.46 and last traded at $73.80. Approximately 42,463 shares changed hands during trading, an increase of 11% from the average daily volume of 38,331 shares. The stock had previously closed at $78.93.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Sabine Royalty Trust in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Sabine Royalty Trust has a consensus rating of “Hold”.

Sabine Royalty Trust Stock Down 7.9%

The stock’s 50-day moving average price is $74.43 and its 200 day moving average price is $71.16. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 13.38 and a beta of 0.25.

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

Sabine Royalty Trust Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Friday, November 28th. Investors of record on Monday, November 17th were paid a $0.3567 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date was Monday, November 17th. Sabine Royalty Trust’s dividend payout ratio is presently 78.82%.

Institutional Investors Weigh In On Sabine Royalty Trust

Several institutional investors and hedge funds have recently bought and sold shares of SBR. Allworth Financial LP boosted its position in shares of Sabine Royalty Trust by 51.8% during the 3rd quarter. Allworth Financial LP now owns 586 shares of the energy company’s stock valued at $47,000 after acquiring an additional 200 shares in the last quarter. Fifth Third Bancorp raised its position in Sabine Royalty Trust by 85.6% in the third quarter. Fifth Third Bancorp now owns 659 shares of the energy company’s stock worth $52,000 after purchasing an additional 304 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Sabine Royalty Trust by 79.2% during the second quarter. BNP Paribas Financial Markets now owns 708 shares of the energy company’s stock worth $47,000 after purchasing an additional 313 shares during the period. Quaker Wealth Management LLC boosted its holdings in Sabine Royalty Trust by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 1,000 shares of the energy company’s stock valued at $66,000 after purchasing an additional 2,000 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in shares of Sabine Royalty Trust by 92.6% in the 3rd quarter. NewEdge Advisors LLC now owns 1,040 shares of the energy company’s stock valued at $83,000 after purchasing an additional 500 shares during the period. Institutional investors own 15.81% of the company’s stock.

Sabine Royalty Trust Company Profile

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.