Fayez Sarofim & Co Cuts Stock Position in Sabine Royalty Trust (NYSE:SBR)

Fayez Sarofim & Co reduced its stake in shares of Sabine Royalty Trust (NYSE:SBR - Free Report) by 7.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 255,636 shares of the energy company's stock after selling 20,000 shares during the period. Fayez Sarofim & Co owned approximately 1.75% of Sabine Royalty Trust worth $16,568,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SBR. Signature Resources Capital Management LLC purchased a new position in shares of Sabine Royalty Trust during the fourth quarter worth $39,000. Campbell Capital Management Inc. purchased a new position in Sabine Royalty Trust during the fourth quarter valued at $52,000. JPMorgan Chase & Co. boosted its holdings in Sabine Royalty Trust by 79.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,028 shares of the energy company's stock worth $64,000 after buying an additional 456 shares during the last quarter. BankPlus Trust Department acquired a new position in shares of Sabine Royalty Trust during the fourth quarter valued at approximately $91,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Sabine Royalty Trust by 153.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,324 shares of the energy company's stock valued at $215,000 after acquiring an additional 2,010 shares in the last quarter. Institutional investors and hedge funds own 15.81% of the company's stock.

Analysts Set New Price Targets

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

Sabine Royalty Trust Price Performance

NYSE SBR opened at $66.12 on Monday. The stock has a market capitalization of $963.89 million, a P/E ratio of 10.19 and a beta of 0.25. The firm's 50-day moving average is $65.91 and its two-hundred day moving average is $64.64. Sabine Royalty Trust has a 12 month low of $58.25 and a 12 month high of $70.20.

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

Sabine Royalty Trust Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $0.5039 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This is a positive change from Sabine Royalty Trust's previous monthly dividend of $0.30. This represents a $6.05 dividend on an annualized basis and a yield of 9.15%. Sabine Royalty Trust's dividend payout ratio is 110.62%.

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.

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