Sabine Royalty Trust (NYSE:SBR) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Sabine Royalty Trust (NYSE:SBR) from a hold rating to a buy rating in a report issued on Monday morning.

Sabine Royalty Trust Trading Down 0.4 %

Shares of SBR stock opened at $61.40 on Monday. Sabine Royalty Trust has a 1 year low of $55.60 and a 1 year high of $72.50. The firm’s fifty day simple moving average is $64.26 and its 200 day simple moving average is $63.39. The firm has a market capitalization of $895.15 million, a P/E ratio of 10.66 and a beta of 0.48.

Sabine Royalty Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 15th will be paid a $0.451 dividend. This represents a $5.41 annualized dividend and a dividend yield of 8.81%. The ex-dividend date of this dividend is Thursday, August 15th. This is a boost from Sabine Royalty Trust’s previous monthly dividend of $0.38. Sabine Royalty Trust’s dividend payout ratio (DPR) is presently 93.92%.

Hedge Funds Weigh In On Sabine Royalty Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Beacon Pointe Advisors LLC lifted its position in shares of Sabine Royalty Trust by 2.8% in the 4th quarter. Beacon Pointe Advisors LLC now owns 198,490 shares of the energy company’s stock worth $13,440,000 after acquiring an additional 5,318 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in Sabine Royalty Trust in the first quarter worth $11,173,000. Significant Wealth Partners LLC bought a new stake in Sabine Royalty Trust in the 4th quarter valued at $2,647,000. Commonwealth Equity Services LLC raised its position in Sabine Royalty Trust by 77.1% in the second quarter. Commonwealth Equity Services LLC now owns 38,820 shares of the energy company’s stock worth $2,511,000 after purchasing an additional 16,902 shares in the last quarter. Finally, American National Bank boosted its position in Sabine Royalty Trust by 0.6% in the first quarter. American National Bank now owns 36,185 shares of the energy company’s stock valued at $2,301,000 after buying an additional 200 shares in the last quarter. 15.81% of the stock is currently owned by institutional investors.

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.