Sabine Royalty Trust (NYSE:SBR) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Sabine Royalty Trust (NYSE:SBR) from a hold rating to a buy rating in a research report sent to investors on Saturday.

Sabine Royalty Trust Trading Down 0.1 %

SBR opened at $65.58 on Friday. Sabine Royalty Trust has a 12 month low of $57.73 and a 12 month high of $69.50. The stock has a fifty day moving average price of $64.58 and a 200-day moving average price of $63.04. The firm has a market cap of $956.14 million, a price-to-earnings ratio of 10.10 and a beta of 0.48.

Sabine Royalty Trust (NYSE:SBR) last released its quarterly earnings results on Tuesday, November 12th. The energy company reported $1.31 earnings per share for the quarter. Sabine Royalty Trust had a net margin of 96.72% and a return on equity of 1,088.44%. The business had revenue of $19.93 million for the quarter.

Sabine Royalty Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $0.4483 per share. This represents a $5.38 annualized dividend and a dividend yield of 8.20%. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from Sabine Royalty Trust’s previous monthly dividend of $0.14. Sabine Royalty Trust’s dividend payout ratio is currently 82.90%.

Institutional Investors Weigh In On Sabine Royalty Trust

A number of large investors have recently modified their holdings of SBR. State Street Corp raised its position in shares of Sabine Royalty Trust by 3.8% in the 3rd quarter. State Street Corp now owns 6,505 shares of the energy company’s stock valued at $402,000 after purchasing an additional 239 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Sabine Royalty Trust by 79.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,028 shares of the energy company’s stock valued at $64,000 after purchasing an additional 456 shares in the last quarter. American National Bank & Trust raised its holdings in shares of Sabine Royalty Trust by 1.3% in 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. Signature Resources Capital Management LLC acquired a new stake in shares of Sabine Royalty Trust during the fourth quarter worth $39,000. Finally, Horizon Kinetics Asset Management LLC grew its holdings in shares of Sabine Royalty Trust by 0.7% during the third quarter. Horizon Kinetics Asset Management LLC now owns 100,368 shares of the energy company’s stock valued at $6,200,000 after buying an additional 710 shares during the last quarter. Hedge funds and other 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.