Sabine Royalty Trust (NYSE:SBR) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Sabine Royalty Trust (NYSE:SBR) from a buy rating to a hold rating in a research report released on Tuesday.

Sabine Royalty Trust Stock Down 1.1 %

Shares of NYSE:SBR opened at $62.45 on Tuesday. Sabine Royalty Trust has a 12-month low of $57.73 and a 12-month high of $72.50. The business has a fifty day simple moving average of $61.34 and a 200 day simple moving average of $62.99.

Sabine Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.5144 dividend. This is a positive change from Sabine Royalty Trust’s previous monthly dividend of $0.44. This represents a $6.17 dividend on an annualized basis and a dividend yield of 9.88%. The ex-dividend date of this dividend is Friday, November 15th. Sabine Royalty Trust’s payout ratio is currently 85.46%.

Institutional Trading of Sabine Royalty Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Howard Financial Services LTD. lifted its position in shares of Sabine Royalty Trust by 160.8% in the 3rd quarter. Howard Financial Services LTD. now owns 67,496 shares of the energy company’s stock worth $4,158,000 after purchasing an additional 41,618 shares during the period. American National Bank & Trust raised its stake in Sabine Royalty Trust by 1.3% during the third quarter. American National Bank & Trust now owns 36,668 shares of the energy company’s stock worth $2,265,000 after buying an additional 483 shares during the last quarter. Family Firm Inc. acquired a new position in Sabine Royalty Trust in the second quarter valued at $48,000. Hsbc Holdings PLC bought a new stake in Sabine Royalty Trust during the second quarter valued at $323,000. Finally, Olistico Wealth LLC bought a new stake in shares of Sabine Royalty Trust during the 2nd quarter valued at about $28,000. Institutional investors and hedge funds own 15.81% of the company’s stock.

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.