Sabine Royalty Trust (NYSE:SBR) Hits New 12-Month Low - What's Next?

Sabine Royalty Trust (NYSE:SBR - Get Free Report)'s share price hit 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 traded. The stock had previously closed at $61.79.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of 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 stock's 50-day simple moving average is $66.17 and its two-hundred day simple moving average is $64.50. The stock has a market cap of $933.42 million, a price-to-earnings ratio of 9.87 and a beta of 0.25.

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 business had revenue of $19.55 million during the quarter. Sabine Royalty Trust had a return on equity of 1,088.44% and a net margin of 96.72%.

Remove Ads

Sabine Royalty Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Tuesday, April 15th will be given a $0.5039 dividend. This represents a $6.05 annualized dividend and a dividend yield of 9.44%. This is a boost from Sabine Royalty Trust's previous monthly dividend of $0.30. The ex-dividend date is Tuesday, April 15th. Sabine Royalty Trust's dividend payout ratio is currently 110.62%.

Hedge Funds Weigh In On Sabine Royalty Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Geneos Wealth Management Inc. grew its position in Sabine Royalty Trust by 1,683.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 4,727 shares of the energy company's stock worth $306,000 after purchasing an additional 4,462 shares during the last quarter. State Street Corp lifted its stake in shares of Sabine Royalty Trust by 3.8% in the third quarter. State Street Corp now owns 6,505 shares of the energy company's stock valued at $402,000 after buying an additional 239 shares during the period. JPMorgan Chase & Co. grew its position in Sabine Royalty Trust by 79.7% during the third quarter. JPMorgan Chase & Co. now owns 1,028 shares of the energy company's stock worth $64,000 after buying an additional 456 shares in the last quarter. Raymond James Financial Inc. bought a new position in Sabine Royalty Trust during the fourth quarter valued at about $1,920,000. Finally, Horizon Kinetics Asset Management LLC raised its holdings in Sabine Royalty Trust by 9.5% in the 4th 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 in the last quarter. 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.