Horizon Kinetics Asset Management LLC Buys 9,553 Shares of Sabine Royalty Trust (NYSE:SBR)

Horizon Kinetics Asset Management LLC boosted its stake in Sabine Royalty Trust (NYSE:SBR) by 9.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,921 shares of the energy company’s stock after acquiring an additional 9,553 shares during the period. Horizon Kinetics Asset Management LLC owned 0.75% of Sabine Royalty Trust worth $7,124,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Prospera Financial Services Inc lifted its stake in Sabine Royalty Trust by 12.1% in the third quarter. Prospera Financial Services Inc now owns 28,519 shares of the energy company’s stock valued at $1,762,000 after buying an additional 3,070 shares during the period. Moors & Cabot Inc. lifted its stake in Sabine Royalty Trust by 6.9% in the third quarter. Moors & Cabot Inc. now owns 25,659 shares of the energy company’s stock valued at $1,585,000 after buying an additional 1,661 shares during the period. Captrust Financial Advisors acquired a new position in Sabine Royalty Trust in the third quarter valued at approximately $230,000. State Street Corp lifted its stake in 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. Finally, Sunbelt Securities Inc. lifted 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 valued at $309,000 after buying an additional 4,400 shares during the period. 15.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Sabine Royalty Trust Stock Up 1.2 %

Shares of NYSE:SBR opened at $65.28 on Monday. Sabine Royalty Trust has a twelve month low of $58.60 and a twelve month high of $70.20. The stock’s 50 day moving average is $66.60 and its 200-day moving average is $63.95. The firm has a market capitalization of $951.72 million, a price-to-earnings ratio of 10.06 and a beta of 0.44.

Sabine Royalty Trust (NYSE:SBR) last issued its earnings results on Thursday, February 27th. The energy company reported $1.27 earnings per share for the quarter. Sabine Royalty Trust had a return on equity of 1,088.44% and a net margin of 96.72%. The company had revenue of $19.55 million for the quarter.

Sabine Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.3012 per share. This represents a $3.61 dividend on an annualized basis and a dividend yield of 5.54%. This is a positive change from Sabine Royalty Trust’s previous monthly dividend of $0.14. The ex-dividend date of this dividend is Monday, March 17th. Sabine Royalty Trust’s dividend payout ratio is presently 66.12%.

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.