Sabine Royalty Trust (NYSE:SBR) Sets New 52-Week Low – Here’s What Happened

Sabine Royalty Trust (NYSE:SBR)’s stock price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $58.25 and last traded at $58.25, with a volume of 21666 shares trading hands. The stock had previously closed at $61.79.

Analyst Upgrades and Downgrades

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

Sabine Royalty Trust Stock Performance

The business has a 50 day simple moving average of $66.81 and a two-hundred day simple moving average of $64.47. The firm has a market capitalization of $882.10 million, a P/E ratio of 9.32 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 earnings per share (EPS) for the quarter. Sabine Royalty Trust had a net margin of 96.72% and a return on equity of 1,088.44%. The company had revenue of $19.55 million during the quarter.

Sabine Royalty Trust Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.3012 per share. This represents a $3.61 annualized dividend and a yield of 5.97%. This is a positive change from Sabine Royalty Trust’s previous monthly dividend of $0.14. The ex-dividend date of this dividend was Monday, March 17th. Sabine Royalty Trust’s dividend payout ratio is presently 110.62%.

Institutional Trading of Sabine Royalty Trust

A number of institutional investors have recently made changes to their positions in the stock. Signature Resources Capital Management LLC bought a new stake in Sabine Royalty Trust in the 4th quarter worth $39,000. Campbell Capital Management Inc. bought a new stake in shares of Sabine Royalty Trust in the fourth quarter worth about $52,000. JPMorgan Chase & Co. grew its stake in shares of Sabine Royalty Trust by 79.7% in the third quarter. JPMorgan Chase & Co. now owns 1,028 shares of the energy company’s stock worth $64,000 after purchasing an additional 456 shares during the last quarter. BankPlus Trust Department purchased a new position in Sabine Royalty Trust during the 4th quarter valued at about $91,000. Finally, Virtus ETF Advisers LLC raised its position in Sabine Royalty Trust by 14.0% during the 4th quarter. Virtus ETF Advisers LLC now owns 2,923 shares of the energy company’s stock valued at $189,000 after purchasing an additional 359 shares during the last quarter. Hedge funds and other institutional investors 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.