Sabine Royalty Trust (NYSE:SBR) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Sabine Royalty Trust (NYSE:SBR) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $73.09 and traded as high as $74.55. Sabine Royalty Trust shares last traded at $74.3790, with a volume of 48,444 shares changing hands.

Wall Street Analysts Forecast Growth

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

Sabine Royalty Trust Stock Performance

The firm’s 50-day moving average is $74.99 and its 200 day moving average is $73.09. The firm has a market capitalization of $1.08 billion, a PE ratio of 15.86 and a beta of 0.21.

Sabine Royalty Trust Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Wednesday, July 15th will be given a dividend of $0.4292 per share. The ex-dividend date is Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 6.9%. Sabine Royalty Trust’s payout ratio is presently 109.81%.

Institutional Trading of Sabine Royalty Trust

Several institutional investors and hedge funds have recently modified their holdings of SBR. Prospera Financial Services Inc lifted its position in shares of Sabine Royalty Trust by 173.9% in the fourth quarter. Prospera Financial Services Inc now owns 158,609 shares of the energy company’s stock valued at $10,876,000 after acquiring an additional 100,691 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Sabine Royalty Trust during the second quarter valued at $1,545,000. Clare Market Investments LLC purchased a new stake in Sabine Royalty Trust during the 1st quarter worth about $1,644,000. Two Sigma Investments LP increased its position in Sabine Royalty Trust by 31.0% during the 3rd quarter. Two Sigma Investments LP now owns 73,515 shares of the energy company’s stock worth $5,842,000 after purchasing an additional 17,385 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Sabine Royalty Trust in the 4th quarter valued at about $1,080,000. Hedge funds and other institutional investors 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.