Fayez Sarofim & Co Lowers Stock Holdings in Sabine Royalty Trust (NYSE:SBR)

Fayez Sarofim & Co lessened its holdings in Sabine Royalty Trust (NYSE:SBR) by 7.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 255,636 shares of the energy company’s stock after selling 20,000 shares during the quarter. Fayez Sarofim & Co’s holdings in Sabine Royalty Trust were worth $16,568,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Horizon Kinetics Asset Management LLC lifted its holdings in Sabine Royalty Trust by 9.5% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 109,921 shares of the energy company’s stock valued at $7,124,000 after acquiring an additional 9,553 shares during the period. TrueMark Investments LLC boosted its holdings in Sabine Royalty Trust by 547.0% during the fourth quarter. TrueMark Investments LLC now owns 88,303 shares of the energy company’s stock worth $5,723,000 after buying an additional 74,655 shares in the last quarter. Howard Financial Services LTD. boosted its holdings in Sabine Royalty Trust by 14.6% during the fourth quarter. Howard Financial Services LTD. now owns 77,336 shares of the energy company’s stock worth $5,012,000 after buying an additional 9,840 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Sabine Royalty Trust in the fourth quarter valued at about $1,920,000. Finally, Blue Trust Inc. lifted its position in shares of Sabine Royalty Trust by 15.4% during the 4th quarter. Blue Trust Inc. now owns 28,842 shares of the energy company’s stock valued at $1,869,000 after acquiring an additional 3,850 shares during the period. 15.81% of the stock is currently owned by hedge funds and other institutional investors.

Sabine Royalty Trust Stock Up 1.7 %

Sabine Royalty Trust stock opened at $66.12 on Monday. The firm’s 50-day simple moving average is $65.91 and its 200 day simple moving average is $64.64. Sabine Royalty Trust has a 52 week low of $58.25 and a 52 week high of $70.20. The firm has a market capitalization of $963.89 million, a PE ratio of 10.19 and a beta of 0.25.

Sabine Royalty Trust (NYSE:SBR) last posted its quarterly earnings data on Thursday, February 27th. The energy company reported $1.27 EPS for the quarter. The business had revenue of $19.55 million for the quarter. Sabine Royalty Trust had a return on equity of 1,088.44% and a net margin of 96.72%.

Sabine Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 29th. Investors of record on Tuesday, April 15th will be issued a $0.5039 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.05 dividend on an annualized basis and a yield of 9.15%. This is a boost from Sabine Royalty Trust’s previous monthly dividend of $0.30. Sabine Royalty Trust’s dividend payout ratio (DPR) is presently 110.62%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Sabine Royalty Trust from a “hold” rating to a “buy” rating in a research note on Monday, February 10th.

Sabine Royalty Trust 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.