Sabine Royalty Trust (NYSE:SBR) Cut to Hold at StockNews.com

StockNews.com lowered shares of Sabine Royalty Trust (NYSE:SBR) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

Sabine Royalty Trust Price Performance

NYSE SBR opened at $62.17 on Tuesday. The company has a fifty day simple moving average of $61.33 and a 200 day simple moving average of $62.99. Sabine Royalty Trust has a 12-month low of $57.73 and a 12-month high of $72.50.

Sabine Royalty Trust Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.5144 dividend. This represents a $6.17 dividend on an annualized basis and a dividend yield of 9.93%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Sabine Royalty Trust’s previous monthly dividend of $0.44. Sabine Royalty Trust’s dividend payout ratio is currently 80.59%.

Hedge Funds Weigh In On Sabine Royalty Trust

A number of hedge funds have recently added to or reduced their stakes in the stock. Horizon Kinetics Asset Management LLC lifted its holdings in shares of Sabine Royalty Trust by 0.7% in the third quarter. Horizon Kinetics Asset Management LLC now owns 100,368 shares of the energy company’s stock valued at $6,200,000 after purchasing an additional 710 shares in the last quarter. Howard Financial Services LTD. lifted its stake in Sabine Royalty Trust by 160.8% during the 3rd quarter. Howard Financial Services LTD. now owns 67,496 shares of the energy company’s stock valued at $4,158,000 after acquiring an additional 41,618 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in Sabine Royalty Trust by 77.1% during the 2nd quarter. Commonwealth Equity Services LLC now owns 38,820 shares of the energy company’s stock worth $2,511,000 after acquiring an additional 16,902 shares during the last quarter. American National Bank & Trust boosted its holdings in Sabine Royalty Trust by 1.3% during the 3rd quarter. American National Bank & Trust now owns 36,668 shares of the energy company’s stock worth $2,265,000 after acquiring an additional 483 shares during the last quarter. Finally, Prospera Financial Services Inc grew its stake in shares of Sabine Royalty Trust by 12.1% in the 3rd quarter. Prospera Financial Services Inc now owns 28,519 shares of the energy company’s stock worth $1,762,000 after acquiring an additional 3,070 shares in the last quarter. Institutional investors and hedge funds 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.