Sabine Royalty Trust (NYSE:SBR) Stock Price Passes Above Fifty Day Moving Average – Here’s Why

Sabine Royalty Trust (NYSE:SBR)’s share price passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $75.55 and traded as high as $76.60. Sabine Royalty Trust shares last traded at $75.99, with a volume of 54,121 shares traded.

Sabine Royalty Trust Stock Up 1.6%

The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 16.20 and a beta of 0.23. The business’s 50-day simple moving average is $75.55 and its two-hundred day simple moving average is $73.11.

Sabine Royalty Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a dividend of $0.4979 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a c) annualized dividend and a yield of 7.9%. This is a boost from Sabine Royalty Trust’s previous monthly dividend of $0.32. Sabine Royalty Trust’s dividend payout ratio is currently 127.29%.

Institutional Trading of Sabine Royalty Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in SBR. Jane Street Group LLC acquired a new stake in shares of Sabine Royalty Trust during the 1st quarter worth approximately $772,000. Cetera Investment Advisers boosted its position in shares of Sabine Royalty Trust by 7.7% during the 2nd quarter. Cetera Investment Advisers now owns 5,926 shares of the energy company’s stock worth $395,000 after purchasing an additional 425 shares during the period. Marshall Wace LLP purchased a new position in shares of Sabine Royalty Trust during the 2nd quarter worth approximately $1,545,000. Peapack Gladstone Financial Corp lifted its holdings in Sabine Royalty Trust by 8.8% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 22,283 shares of the energy company’s stock worth $1,486,000 after buying an additional 1,806 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in Sabine Royalty Trust by 11.9% during the 2nd quarter. Bank of America Corp DE now owns 28,496 shares of the energy company’s stock worth $1,900,000 after buying an additional 3,026 shares in the last quarter. Institutional investors and hedge funds own 15.81% of the company’s stock.

Sabine Royalty Trust Company Profile

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.