Sabine Royalty Trust (NYSE:SBR) Stock Passes Below Two Hundred Day Moving Average – Here’s What Happened

Shares of Sabine Royalty Trust (NYSE:SBR) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $63.07 and traded as low as $60.14. Sabine Royalty Trust shares last traded at $60.51, with a volume of 35,891 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Sabine Royalty Trust from a “hold” rating to a “buy” rating in a report on Monday, August 12th.

Sabine Royalty Trust Trading Down 0.9 %

The stock has a fifty day moving average of $61.66 and a 200-day moving average of $63.04.

Sabine Royalty Trust (NYSE:SBR) last released its quarterly earnings results on Thursday, August 8th. The energy company reported $1.51 earnings per share (EPS) for the quarter. Sabine Royalty Trust had a return on equity of 1,098.84% and a net margin of 96.63%. The firm had revenue of $22.78 million for the quarter.

Sabine Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which was paid on Tuesday, October 29th. Investors of record on Tuesday, October 15th were issued a dividend of $0.4358 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $5.23 dividend on an annualized basis and a dividend yield of 8.64%. This is a positive change from Sabine Royalty Trust’s previous monthly dividend of $0.14. Sabine Royalty Trust’s dividend payout ratio (DPR) is currently 85.46%.

Institutional Investors Weigh In On Sabine Royalty Trust

A number of hedge funds have recently added to or reduced their stakes in SBR. Commonwealth Equity Services LLC lifted its position in Sabine Royalty Trust by 5.0% in the first quarter. Commonwealth Equity Services LLC now owns 21,918 shares of the energy company’s stock valued at $1,394,000 after purchasing an additional 1,049 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Sabine Royalty Trust in the first quarter valued at about $11,173,000. Olistico Wealth LLC acquired a new stake in Sabine Royalty Trust in the second quarter valued at about $28,000. Raymond James & Associates lifted its position in Sabine Royalty Trust by 2.3% in the second quarter. Raymond James & Associates now owns 26,427 shares of the energy company’s stock valued at $1,710,000 after purchasing an additional 588 shares during the period. Finally, Family Firm Inc. acquired a new stake in Sabine Royalty Trust in the second quarter valued at about $48,000. Institutional investors and hedge funds own 15.81% of the company’s stock.

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.