Cresset Asset Management LLC Invests $867,000 in Sabine Royalty Trust $SBR

Cresset Asset Management LLC purchased a new stake in Sabine Royalty Trust (NYSE:SBR) in the second quarter, Holdings Channel.com reports. The firm purchased 13,005 shares of the energy company’s stock, valued at approximately $867,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Beacon Pointe Advisors LLC grew its holdings in Sabine Royalty Trust by 1.3% during the 2nd quarter. Beacon Pointe Advisors LLC now owns 195,894 shares of the energy company’s stock worth $13,017,000 after acquiring an additional 2,443 shares during the last quarter. Americana Partners LLC bought a new stake in shares of Sabine Royalty Trust during the second quarter valued at approximately $2,469,000. Moody National Bank Trust Division bought a new stake in shares of Sabine Royalty Trust during the second quarter valued at approximately $2,346,000. SCS Capital Management LLC acquired a new stake in shares of Sabine Royalty Trust in the first quarter valued at approximately $2,106,000. Finally, Prospera Financial Services Inc raised its position in Sabine Royalty Trust by 4.9% in the 2nd quarter. Prospera Financial Services Inc now owns 31,059 shares of the energy company’s stock worth $2,071,000 after purchasing an additional 1,462 shares during the last quarter. Institutional investors and hedge funds own 15.81% of the company’s stock.

Sabine Royalty Trust Price Performance

Shares of NYSE:SBR opened at $72.21 on Thursday. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 13.30 and a beta of 0.25. The company has a 50 day moving average of $73.72 and a 200-day moving average of $71.35. Sabine Royalty Trust has a one year low of $58.25 and a one year high of $84.39.

Sabine Royalty Trust (NYSE:SBR) last announced its quarterly earnings data on Friday, November 7th. The energy company reported $1.70 earnings per share (EPS) for the quarter. Sabine Royalty Trust had a net margin of 95.30% and a return on equity of 961.65%. The firm had revenue of $25.52 million for the quarter.

Sabine Royalty Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, December 29th. Investors of record on Monday, December 15th will be paid a dividend of $0.1967 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a c) dividend on an annualized basis and a dividend yield of 3.3%. Sabine Royalty Trust’s payout ratio is 78.82%.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Sabine Royalty Trust in a research report on Friday, October 31st. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

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.