Clare Market Investments LLC Acquires New Stake in Sabine Royalty Trust $SBR

Clare Market Investments LLC purchased a new stake in Sabine Royalty Trust (NYSE:SBR) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 21,825 shares of the energy company’s stock, valued at approximately $1,644,000. Clare Market Investments LLC owned approximately 0.15% of Sabine Royalty Trust as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jane Street Group LLC purchased a new position in Sabine Royalty Trust during the first quarter worth about $772,000. Cetera Investment Advisers increased 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 valued at $395,000 after purchasing an additional 425 shares during the last quarter. Marshall Wace LLP bought a new position in Sabine Royalty Trust during the 2nd quarter worth approximately $1,545,000. Peapack Gladstone Financial Corp increased its stake in Sabine Royalty Trust by 8.8% in the 2nd quarter. Peapack Gladstone Financial Corp now owns 22,283 shares of the energy company’s stock worth $1,486,000 after purchasing an additional 1,806 shares during the period. Finally, Bank of America Corp DE grew its position in shares of Sabine Royalty Trust by 11.9% in 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 during the last quarter. 15.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Sabine Royalty Trust Stock Performance

Shares of NYSE:SBR opened at $73.62 on Tuesday. The stock’s 50-day simple moving average is $75.29 and its two-hundred day simple moving average is $72.86. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 15.65 and a beta of 0.21. Sabine Royalty Trust has a 52-week low of $65.15 and a 52-week high of $84.39.

Sabine Royalty Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Wednesday, July 15th will be given a dividend of $0.4292 per share. This represents a c) dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date of this dividend is Wednesday, July 15th. Sabine Royalty Trust’s payout ratio is presently 128.78%.

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.