Sabine Royalty Trust (NYSE:SBR – Get Free Report) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
Sabine Royalty Trust Price Performance
SBR stock traded up $0.52 during midday trading on Friday, reaching $66.83. The stock had a trading volume of 29,528 shares, compared to its average volume of 34,421. Sabine Royalty Trust has a twelve month low of $57.73 and a twelve month high of $69.50. The business has a fifty day simple moving average of $64.22 and a two-hundred day simple moving average of $63.05.
Hedge Funds Weigh In On Sabine Royalty Trust
Large investors have recently bought and sold shares of the business. Signature Resources Capital Management LLC acquired a new stake in Sabine Royalty Trust during the 4th quarter worth $39,000. JPMorgan Chase & Co. boosted its position in shares of 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 purchasing an additional 456 shares during the last quarter. Captrust Financial Advisors acquired a new stake in shares of Sabine Royalty Trust during the third quarter worth $230,000. M.E. Allison & CO. Inc. acquired a new stake in shares of Sabine Royalty Trust during the fourth quarter worth $259,000. Finally, Sunbelt Securities Inc. increased its holdings 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 valued at $309,000 after purchasing an additional 4,400 shares during the last quarter. 15.81% of the stock is currently owned by institutional investors and hedge funds.
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.
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