Sabine Royalty Trust (NYSE:SBR) Releases Earnings Results

by · The Markets Daily

Sabine Royalty Trust (NYSE:SBR – Get Free Report) released its earnings results on Friday. The energy company reported $1.43 earnings per share for the quarter, Zacks reports. Sabine Royalty Trust had a net margin of 94.73% and a return on equity of 959.48%.

Sabine Royalty Trust Stock Performance

Shares of Sabine Royalty Trust stock traded up $1.85 on Friday, hitting $72.58. 61,442 shares of the company traded hands, compared to its average volume of 39,229. The stock has a market capitalization of $1.06 billion, a P/E ratio of 15.48 and a beta of 0.21. Sabine Royalty Trust has a 52 week low of $65.31 and a 52 week high of $84.39. The business has a 50-day simple moving average of $73.73 and a 200 day simple moving average of $73.64.

Sabine Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be issued a dividend of $0.6194 per share. This is an increase from Sabine Royalty Trust’s previous monthly dividend of $0.43. The ex-dividend date of this dividend is Monday, August 17th. This represents a c) dividend on an annualized basis and a yield of 10.2%. Sabine Royalty Trust’s payout ratio is 109.81%.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Sabine Royalty Trust in a report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold”.

Get Our Latest Research Report on Sabine Royalty Trust

Hedge Funds Weigh In On Sabine Royalty Trust

A number of hedge funds and other institutional investors have recently modified their holdings of SBR. Marshall Wace LLP bought a new position in Sabine Royalty Trust during the second quarter valued at $1,545,000. Two Sigma Investments LP increased its holdings in shares of Sabine Royalty Trust by 31.0% in the 3rd quarter. Two Sigma Investments LP now owns 73,515 shares of the energy company’s stock worth $5,842,000 after buying an additional 17,385 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Sabine Royalty Trust in the 4th quarter worth about $1,080,000. &PARTNERS purchased a new stake in shares of Sabine Royalty Trust during the 4th quarter valued at about $962,000. Finally, Bank of America Corp DE raised its position in shares of Sabine Royalty Trust by 40.5% during the 3rd quarter. Bank of America Corp DE now owns 40,023 shares of the energy company’s stock valued at $3,180,000 after buying an additional 11,527 shares in the last quarter. Institutional investors own 15.81% of the company’s stock.

About Sabine Royalty Trust

(Get Free Report)

Sabine Royalty Trust is a Delaware statutory trust that owns a non-operating royalty interest in a portfolio of oil and gas properties. Rather than engaging in exploration or production activities directly, the trust receives a share of net proceeds from hydrocarbon production on the underlying properties and distributes those proceeds to unitholders on a monthly basis.

The trust was established in 1982 through a transaction with Sabine Oil & Gas Corporation, which transferred its overriding royalty interests in numerous wells and acreage to the trust.

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