Raymond James Financial Inc. Makes New $1.92 Million Investment in Sabine Royalty Trust (NYSE:SBR)

Raymond James Financial Inc. bought a new stake in shares of Sabine Royalty Trust (NYSE:SBR - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 29,620 shares of the energy company's stock, valued at approximately $1,920,000. Raymond James Financial Inc. owned approximately 0.20% of Sabine Royalty Trust at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Captrust Financial Advisors purchased a new position in shares of Sabine Royalty Trust during the 3rd quarter worth about $230,000. State Street Corp raised its stake in shares of Sabine Royalty Trust by 3.8% during the third quarter. State Street Corp now owns 6,505 shares of the energy company's stock valued at $402,000 after acquiring an additional 239 shares in the last quarter. Sunbelt Securities Inc. grew its stake in Sabine Royalty Trust by 733.3% in the third quarter. Sunbelt Securities Inc. now owns 5,000 shares of the energy company's stock worth $309,000 after purchasing an additional 4,400 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Sabine Royalty Trust by 79.7% during the 3rd 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 period. Finally, Sendero Wealth Management LLC bought a new stake in Sabine Royalty Trust during the 4th quarter valued at $838,000. Hedge funds and other institutional investors own 15.81% of the company's stock.

Analyst Upgrades and Downgrades

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

Remove Ads

Sabine Royalty Trust Price Performance

Shares of SBR stock traded down $1.60 during mid-day trading on Thursday, hitting $66.52. 42,954 shares of the stock traded hands, compared to its average volume of 37,546. Sabine Royalty Trust has a 52-week low of $58.60 and a 52-week high of $70.20. The stock has a market cap of $969.78 million, a P/E ratio of 10.25 and a beta of 0.44. The stock's fifty day moving average is $66.87 and its two-hundred day moving average is $64.39.

Sabine Royalty Trust (NYSE:SBR - Get Free Report) last posted its earnings results on Thursday, February 27th. The energy company reported $1.27 EPS for the quarter. The company 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 business also recently disclosed a monthly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.3012 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $3.61 annualized dividend and a dividend yield of 5.43%. This is an increase from Sabine Royalty Trust's previous monthly dividend of $0.14. Sabine Royalty Trust's dividend payout ratio is 66.12%.

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.